Vancouver — Northwest Pipe Co., the Vancouver-based steel pipe manufacturer, reported a second-quarter net loss of $12.07 million, the company said Wednesday. That compares with a net loss of $3.19 million in the April-to-June period in 2014.
Part of the second-quarter loss was due to a non-cash goodwill impairment charge, the company said. Excluding that charge, the company’s loss for the period ending June 30 was $6.8 million. The company had net sales of $53.84 million in the second quarter, down 47 percent from $101.98 million a year ago.
“In the coming quarter, we expect revenue growth of 10 to 15 percent in our water transmission business as we start production on the next segment of the Integrated Pipeline Project in Texas,” Scott Montross, the company’s president and CEO, said in a news release. “Third quarter margins are expected to remain compressed in the mid-single digits.”
