Northwest Pipe 2Q profit down 28 percent
Monday, August 6, 2012
Vancouver-based Northwest Pipe Co. on Monday reported a profit of $3.6 million, 38 cents per share, for the three-month period ended June 30. That compares with a profit of $5 million, 53 cents per share, for the second quarter of 2011.
The company's net sales of $131 million were down by 8.9 percent, year-over-year. Although sales and profit were down, CEO Richard Roman said that the company — a maker of steel pipe, primarily for drinking water systems — expects a stronger second half of 2012.