Friedman Industries, Incorporated Announces Second Quarter Results
November 13 2017 - 04:39PM
Business Wire
Friedman Industries, Incorporated (NYSE - American; trading
symbol: FRD):
Friedman Industries, Incorporated, a Texas-based company engaged
in pipe manufacturing, steel coil processing and steel and pipe
distribution, announced today its results of operations for the
second quarter. For the quarter ended September 30, 2017, the
Company recorded net earnings of $310,039 ($0.04 diluted earnings
per share) on sales of $26,077,710. During the quarter ended
September 30, 2016, the Company recorded a net loss of $603,882
($0.09 diluted loss per share) on sales of $18,317,506.
SUMMARY OF OPERATIONS (unaudited)
THREE MONTHS ENDED
SEPT. 30,
SIX MONTHS ENDED
SEPT. 30,
2017
2016
2017
2016
Net sales $ 26,077,710 $ 18,317,506 $ 49,160,979 $
40,711,270 Total costs and other income 25,620,690 19,264,296
48,474,555 43,989,048 Earnings (loss)
before income taxes 457,020 (946,790 ) 686,424 (3,277,778 )
Income taxes 146,981 (342,908 ) 205,765 (1,212,677 )
Net earnings (loss) $ 310,039 $ (603,882 ) $ 480,659
$ (2,065,101 ) Weighted average shares outstanding: Basic
7,009,444 6,799,444 7,009,444 6,799,444 Diluted 7,009,444 6,799,444
7,009,444 6,799,444 Net earnings (loss) per share: Basic $
0.04 $ (0.09 ) $ 0.07 $ (0.30 ) Diluted $ 0.04 $ (0.09 ) $ 0.07 $
(0.30 )
For further information, please refer to the Company's Form 10-Q
as filed with the U.S. Securities and Exchange Commission on
November 13, 2017 or contact Alex LaRue, Vice President - Secretary
and Treasurer, at (903) 758-3431.
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version on businesswire.com: http://www.businesswire.com/news/home/20171113006365/en/
Friedman Industries, IncorporatedAlex LaRue, (903) 758-3431Vice
President - Secretary and Treasurer
Friedman Industries (AMEX:FRD)
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