NW Pipe shatters sales record in 2011

Apr 30, 2012 | 01:32 PM | Michael Cowden

Tags  Northwest Pipe, earnings, 2011, full year, Richard Roman, Water Transmission, Tubular Products, infrastructure energy

TORONTO — Northwest Pipe Co. swung to a profit and broke its annual sales record in 2011 despite grappling with an accounting issue that saw it threatened with delisting from the Nasdaq Stock Market.

The Vancouver, Wash.-based steel tube and pipe maker reported net income of $12.7 million in 2011 in contrast to a net loss of $5.4 million the previous year. The company posted sales of $511.7 million in 2011 compared with sales of nearly $386.8 million in 2010, according to earnings data released Monday. Those results broke the company’s previous annual sales record of $451.4 million set in 2008, Northwest Pipe said.....

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