Rise in shale activity leads MRC to record sales

May 08, 2012 | 10:15 AM | Michael Cowden

Tags  MRC Global, Andrew Lane, shale, oil, natural gas, OneSteel, distributor, energy steel tube

TORONTO — MRC Global Inc. swung to a profit in the first quarter, thanks to record sales and strong shale-related activity in North America.

The Houston-based services provider and pipe, valves and fittings distributor reported net income of $37.5 million for the three months ended March 31, in contrast to a year-earlier net loss of $1.1 million, on sales that rose 39.4 percent to $1.38 billion from $991.8 million.....

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