FRD Friedman Industries Inc

Friedman Industries, Incorporated (NYSE American, trading symbol: FRD), a Texas-based company engaged in pipe manufacturing and finishing, steel coil processing and steel and pipe distribution, announced today its results of operations for the first quarter. For the quarter ended June 30, 2017, the Company recorded net earnings of $170,620 ($0.02 diluted earnings per share) on sales of $23,083,269. For the quarter ended June 30, 2016, the Company recorded a net loss of $1,461,219 ($0.21 diluted loss per share) on sales of $22,393,764.

  SUMMARY OF OPERATIONS (unaudited)           THREE MONTHS ENDED JUNE 30,

2017

     

2016

  Net sales $ 23,083,269 $ 22,393,764 Total costs and other income 22,853,865 24,724,752     Earnings (loss) before income taxes 229,404 (2,330,988 )   Income taxes 58,784 (869,769 )     Net earnings (loss) $ 170,620 $ (1,461,219 )   Weighted average shares outstanding: Basic 7,009,444 6,799,444 Diluted 7,009,444 6,799,444   Net earnings (loss) per share: Basic $ 0.02 $ (0.21 ) Diluted $ 0.02 $ (0.21 )  

For further information, please refer to the Company's Form 10-Q as filed with the U.S. Securities and Exchange Commission on August 14, 2017 or contact Alex LaRue, Vice President - Secretary and Treasurer at (903)758-3431.

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Friedman Industries, IncorporatedAlex LaRue, 903-758-3431Vice President - Secretary and Treasurer