FRD finally pr'd their results, 24 hours after the 10Q was filed. Getting a little pop on the news.
Friedman Industries, Incorporated Announces Third Quarter Results
Business Wire - February 15, 2006 15:08
HOUSTON, Feb 15, 2006 (BUSINESS WIRE) -- Friedman Industries, Incorporated (AMEX:FRD), a Houston-based company engaged in pipe manufacturing, steel coil processing and steel and pipe distribution, announced today its results of operations for the third quarter. Net earnings for the quarter ended December 31, 2005 were $1,668,687 ($0.23 per share diluted) on sales of $44,527,263. During the quarter ended December 31, 2004, net earnings were $1,220,609 ($0.16 per share diluted) on sales of $43,434,081.
SUMMARY OF OPERATIONS(unaudited)
Three months ended Dec. 31, Nine months ended Dec. 31,
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2005 2004 2005 2004
-------------- ------------ ------------- -------------
Net sales $44,527,263 $43,434,081 $133,314,893 $137,370,026
Total costs
and expenses 41,884,175 41,486,414 126,319,119 129,294,116
-------------- ------------ ------------- -------------
Earnings
before income
taxes 2,643,088 1,947,667 6,995,774 8,075,910
Income taxes 974,401 727,058 2,627,213 2,975,339
-------------- ------------ ------------- -------------
Net income $1,668,687 $1,220,609 $4,368,561 $5,100,571
-------------- ------------ ------------- -------------
Average number
of common
shares
outstanding:
Basic 7,151,014 7,480,467 7,143,503 7,548,704
Diluted 7,258,567 7,736,885 7,261,022 7,759,235
Net income per
share
Basic $0.23 $0.16 $0.61 $0.68
Diluted $0.23 $0.16 $0.60 $0.66
SOURCE: Friedman Industries, Incorporated
