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Northwest Pipe sees sales spike despite loss for 2010

The Columbian
Published: March 23, 2011, 12:00am

Northwest Pipe Co. reported a loss of $1.4 million, or 15 cents per diluted share, for 2010, the company said Tuesday. That compares with a loss of $7.3 million, or 79 cents per diluted share, for 2009.

The Vancouver-based maker of steel pipe said it had net sales of $386.8 million for 2010. That compares with net sales of $278.7 million for 2009.

During an earnings call Tuesday, Richard Roman, president and CEO of Northwest Pipe, said the company saw a “meaningful recovery of our business” in 2010. He said increases in oil and natural gas drilling operations are driving up demand for Northwest Pipe’s tubular products. As a result, the company’s tubular products division had sales of $165.5 million in 2010, up 142 percent from $68.3 million in 2009.

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