10 / 40
Disciplined inventory management helped Reliance
come out of a challenging 2015 with record cash flow
from operations of $1 billion and increased gross profit
margins in each successive quarter of the year. Our
balance sheet remains strong as we were able to reduce
total debt by almost $377 million, and our strong
liquidity allowed us to repurchase approximately $356
million of our common stock while continuing to pay
cash dividends for the 56th consecutive year.