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.

Contacts

Friedman Industries, Incorporated
Alex LaRue, (903) 758-3431
Vice President - Secretary and Treasurer

 

Source:businesswire.com

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