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FRIEDMAN IND
Symbol U : FRD
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Friedman Industries, Incorporated Announces Fourth Quarter and Fiscal Year 2012 Results of Operations

2012-06-19 16:40 ET - News Release


HOUSTON -- (Business Wire)

Friedman Industries, Incorporated (FRD, NYSE-MKT), a Texas-based company engaged in pipe manufacturing, steel coil processing and steel and pipe distribution, announced today its results of operations for the quarter and year ended March 31, 2012. Net earnings for the year ended March 31, 2012, were $8,150,464 ($1.20 per share diluted) on net sales of $161,521,993. During the year ended March 31, 2011, the Company recorded net earnings of $8,155,637 ($1.20 per share diluted) on sales of $131,709,492.

For the quarter ended March 31, 2012, the Company reported net earnings of $2,204,896 ($0.32 per share diluted) on net sales of $43,559,995 compared to net earnings of $3,202,575 ($0.47 per share diluted) on net sales of $41,998,111 recorded during the quarter ended March 31, 2011.

    SUMMARY OF OPERATIONS
(unaudited)      

THREE MONTHS ENDED MAR. 31,

YEAR ENDED MAR. 31,

2012

 

2011

2012

   

2011

 
Net sales $ 43,559,995 $ 41,998,111 161,521,993 $ 131,709,492
Total costs, and
expenses 40,287,121 37,367,132 149,315,433 119,595,779
       
Earnings before
income taxes 3,272,874 4,630,979 12,206,560 12,113,713
Income taxes   1,067,978   1,428,404   4,056,096   3,958,076
Net earnings $ 2,204,896 $ 3,202,575 $ 8,150,464 $ 8,155,637
 
Weighted average
shares outstanding:
Basic 6,799,444 6,799,444 6,799,444 6,799,444
Diluted 6,799,444 6,799,444 6,799,444 6,799,444
Earnings per share:
Basic $ 0.32 $ 0.47 $ 1.20 $ 1.20
Diluted $ 0.32 $ 0.47 $ 1.20 $ 1.20

Contacts:

Friedman Industries, Incorporated
Ben Harper, (713) 672-9433
Senior Vice President

Source: Friedman Industries, Incorporated

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