Edgen logs net loss, withdraws guidance

May 14, 2013 | 01:50 PM | Thorsten Schier

Tags  Edgen Group, earnings report, guidance, oil country tubular goods, OCTG, energy, infrastructure, Thorsten Schier

NEW YORK — Edgen Group Inc. has withdrawn its previously issued guidance for 2013 as it posted a first-quarter net loss of nearly $5.39 million on sales that fell 19.7 percent to $406.1 million.

"The near-term prospects of our energy and infrastructure (E&I) business are being affected by the steel pricing environment and delays in contract awards and customer purchasing decisions," chairman and chief executive officer Dan O’Leary said in a statement.....

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