Friedman’s net income falls on lower tube sales, prices

Aug 14, 2013 | 01:44 PM | Thorsten Schier

Tags  Friedman Industries, earnings report, tubing, hot-rolled coil, Thorsten Schier

NEW YORK — Friedman Industries Inc.’s net income fell sharply in its fiscal first quarter on substantially reduced tubing volumes and lower prices.

"Management believes these soft market conditions were related to oversupply, foreign competition and, more significantly, a weak U.S. economy," the Humble, Texas-based company said....

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