Friedman logs loss as tubular prices, sales fall
Aug 14, 2014 | 12:55 PM
| Thorsten Schier
NEW YORK Friedman Industries Inc. swung to a net loss in its fiscal first quarter, with higher selling prices for steel coil products offset by lower tubular sales volumes and prices, as well as higher substrate costs.
The company posted a net loss of $118,250 for the three months ended June 30, in contrast to net income of $808,359 in the year-earlier period, on sales that fell 5.7 percent to $27.9 million, the Houston-based company said in its quarterly earnings report.....
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