Armco Inc. reported second-quarter profit of $40.4...

Armco Inc. reported second-quarter profit of $40.4 million, up 12% from last year. Sales reached $826.7 million, a 15% gain. This includes a previously announced pretax charge of $15 million related to the Armco Financial Services Group runoff insurance companies, the Parsippany, N.J.-based steel firm said.