Northwest Pipe profit nearly double over last year

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Vancouver-based Northwest Pipe Co. has reported a profit of $9.5 million, or $1 per diluted share, for the first quarter of this year. That compares with a profit of $4.7 million, or 50 cents per diluted share, for the January-to-March period in 2012.

The company, which manufactures steel pipe primarily for drinking water systems, reported first-quarter net sales of $140.6 million. That's down roughly 1 percent from net sales of $142.2 million in the first quarter of 2012.

"Based on current market conditions, we believe the first quarter will be our strongest quarter in 2013," Scott Montross, president and CEO of Northwest Pipe, said in a news release.