NEW YORK Webco
Industries Inc. posted a sharp drop in sales and earnings in
its fiscal third quarter as it once again experienced lower
volume, a less-favorable product mix and weak spot
"We have seen
improvement in some of our industrial sectors, but visibility
into the future is limited," vice chairwoman, president and
chief executive officer Dana Weber said in comments
accompanying the companys earnings release.
Webco posted net
income of $1.05 million for the three months ended April 30,
down 80 percent from $5.23 million in the same period last
year, on revenue that fell 27.5 percent to nearly $97.8
The weaker numbers
followed a sharp decline in fiscal second-quarter results by
the Sand Springs, Okla.-based tubular products manufacturer and
amm.com, March 19).
Webco was identified as a domestic producer in a recent
trade petition arguing for anti-dumping duties on imports of
welded stainless pressure pipe from Malaysia, Thailand and
Vietnam that three producers, Bristol Metals LP, Felker
Brothers Corp. and Outokumpu Stainless Pipe Inc., claim are
injuring the domestic industry (
amm.com, May 17).