14
Aug
22:14
Price improvement pushes Friedman to profitability
Pipe maker and coil processor Friedman Industries returned to the black in its fiscal first quarter, Kallanish reports.
In the quarter ended 30 June, Friedman posted a net profit of $170,620 on sales of $23.083 million. In fiscal Q1 2016, the company recorded a loss of $1.46m on sales of $22.39m.
The boost was primarily due to an increase in average selling prices, Friedman says in its filing with the US Securities and Exchange Commission. Both average tubula…
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Very good overview of the weekly steel market.
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