Cliffs Natural Resources Inc.'s revenue for the three-month period ending June 30 was up 203 percent over the same period last year, the company reported Wednesday.
The company had a record $1.18 billion in revenue in the second quarter of this year, compared to $390.3 million in the same quarter last year.
"The increase was driven by higher sales volume and pricing in each of Cliffs' business segments, reflecting an improvement in demand for steelmaking raw materials from the comparable quarter in 2009," according to a news release from the company.
Second-quarter 2010 net income increased to $260.7 million, or $1.92 per diluted share, from $45.5 million, or $0.36 per diluted share, in the second quarter of 2009.
