Falling nickel prices pinch Synalloy's 1st-qtr. profits
Apr 20, 2012 | 12:58 PM
| Michael Cowden
Tags
Synalloy,
earnings,
first quarter,
2012,
stainless steel pipe,
carbon steel piping systems,
nickel prices,
fabrication
inventory
TORONTO — Synalloy Corp. saw its profits narrow in the first quarter as declining nickel prices resulted in inventory-related losses.
The Spartanburg, S.C.-based stainless steel pipe producer and piping systems fabricator on Friday reported earnings of $1.3 million on revenue of $47.4 million for the first quarter ended March 31. The latest quarterly earnings figure is roughly half the $2.5 million in....
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