Vallourec net income weakens in third qtr.
Nov 07, 2012 | 05:21 PM
| Michael Cowden
Tags
Vallourec,
steel,
tube and pipe,
energy,
Philippe Crouzet
CHICAGO — Vallourec SA’s earnings were squeezed in the third quarter as a solid performance in the energy sector could not offset weakness in non-energy products, particularly in Europe and Brazil.
The Boulogne-Billancourt, France-based steel tube and pipe maker posted net income of €61.7 million ($78.74 million) for the three months ended Sept. 30, down 31.8 percent from €90.5 million in the same period last year despite sales inching up 2.2 percent to more than €1.33 billion ($1.7 billion) from nearly €1.31 billion. ....
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