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Byline: David Robinson
Oct. 19--Gibraltar Steel Corp., overcoming a sluggish steel market, said Wednesday its third-quarter profits rose 1 percent, beating analyst expectations.
Buoyed by a 10 percent increase in sales and lower administrative costs, Gibraltar said its profits grew to $7.25 million, or 57 cents per share, from $7.21 million, or 56 cents per share, a year ago. Analysts had been expecting the company to earn 56 cents per share, according to First Call Corp., which tracks earnings estimates.
Gibraltar's rising sales, which grew to $178 millionfrom $163 million, stemmed from its July acquisition of Ohio-based metal building products …