MRO Magazine

Friedman Industries, Incorporated Announces First Quarter Results


August 13, 2015
By Business Wire News

HOUSTON

Friedman Industries, Inc. (NYSE MKT, 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 first quarter. For the quarter ended June 30, 2015, the Company recorded net earnings of $525,949 ($0.08 diluted earnings per share) on sales of $23,968,569. During the quarter ended June 30, 2014, the Company recorded a net loss of $118,250 ($0.02 diluted loss per share) on sales of $27,904,521.

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

2015

2014

 
Net sales $ 23,968,569 $ 27,904,521
Total costs and
other income 23,162,882 27,981,784
   
Earnings (loss) before
income taxes 805,687 (77,263 )
 
Income taxes 279,738 40,987
   
Net earnings (loss) $ 525,949 $ (118,250 )
 
Weighted average shares outstanding:
Basic 6,799,444 6,799,444
Diluted 6,799,444 6,799,444
 
Net earnings (loss) per share:
Basic $ 0.08 $ (0.02 )
Diluted $ 0.08 $ (0.02 )
 

For further information, please refer to the Company’s Form 10-Q as filed with the U.S. Securities and Exchange Commission on August 13, 2015 or contact Alex LaRue, Vice President – Secretary and Treasurer at (903) 639-2511.

Friedman Industries, Incorporated
Alex LaRue, (903) 639-2511
Vice President – Secretary and Treasurer