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Webco suffers sharp decline in quarterly sales, earnings

Keywords: Tags  Webco Industries, tubular products, Dana Weber, earnings report, Thorsten Schier

NEW YORK — Webco Industries Inc. posted a sharp drop in sales and earnings in its fiscal second quarter as it experienced lower volume, a less-favorable product mix and weak spot pricing.

The Sand Springs, Okla.-based tubular products manufacturer and distributor reported net income of $1.28 million for the three months ended Jan. 31, down 61.4 percent from $3.31 million in the same period a year earlier on sales that fell 21.8 percent to $99.13 million.

"We hope for the return of more favorable volume and spot pricing conditions as fiscal year 2013 progresses, but continue to monitor domestic and international economic and political uncertainty," chief executive officer Dana S. Weber said in comments accompanying the company’s earnings release.

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