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Friedman Industries, Incorporated Announces Third Quarter Results
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HOUSTON--(BUSINESS WIRE)--Friedman Industries, Incorporated (FRD-NYSE-Amex), a Texas-based company
engaged in pipe manufacturing, steel coil processing and steel and pipe
distribution, announced today its results of operations for the third
quarter. For the quarter ended December 31, 2011, the Company recorded
net earnings of $1,799,250 ($0.26 per share diluted) on sales of
$36,987,260. During the quarter ended December 31, 2010, the Company
recorded net earnings of $1,733,494 ($0.25 per share diluted) on sales
of $31,135,887.
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SUMMARY OF OPERATIONS (unaudited)
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THREE MONTHS ENDED DEC. 31,
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NINE MONTHS ENDED DEC. 31,
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2011
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2010
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2011
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2010
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??
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Net sales
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$
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36,987,260
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$
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31,135,887
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$
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117,961,998
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$
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89,711,381
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Total costs and
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??
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other income
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34,283,677
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28,510,988
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109,028,311
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82,271,525
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??
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Earnings before
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income taxes
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2,703,583
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2,624,899
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8,933,687
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7,439,856
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Income taxes
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904,333
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891,405
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2,988,118
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??
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2,486,794
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Net earnings
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$
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1,799,250
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$
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1,733,494
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$
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5,945,569
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$
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4,953,062
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??
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Weighted average
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shares outstanding:
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Basic
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6,799,444
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6,799,444
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6,799,444
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6,799,444
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Diluted
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6,799,444
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6,799,444
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6,799,444
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6,799,444
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Earnings per share:
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Basic
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$
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0.26
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$
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0.25
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$
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0.87
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$
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0.73
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Diluted
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$
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0.26
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$
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0.25
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$
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0.87
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$
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0.73
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