Northwest Pipe reports return to profitability
Saturday, August 6, 2011
Vancouver — Northwest Pipe Co. reported a profit of $5.4 million, or 57 cents per share, for the three months ended June 30, the company said Friday.
That compares with a loss of $1.4 million, or 15 cents per share, for the same period in 2010.
The Vancouver-based maker of steel pipe said it had net sales of $143.8 million in the second quarter of this year. That compares with net sales of $96.1 million for the same period a year ago.
The company’s tubular product sales increased 73 percent to $69.3 million in the second quarter, driven by demand for energy pipe, “resulting from increases in natural gas and oil drilling operations,” the company said in a news release.