Friedman Industries, Incorporated, a Texas based company engaged in pipe manufacturing, steel coil processing and steel and pipe distribution, has announced its results of operations for the quarter and year ended March 31st 2012.
Net earnings for the year ended March 31st 2012, were USD 8,150,464 on net sales of USD 161,521,993. During the year ended March 31st 2011, the company recorded net earnings of USD 8,155,637 on sales of USD 131,709,492.
For the quarter ended March 31st 2012, the company reported net earnings of USD 2,204,896 on net sales of USD 43,559,995 as compared to net earnings of USD 3,202,575 on net sales of USD 41,998,111 recorded during the quarter ended March 31st 2011.
Summary of operations
| Item | Q4 '12 | Q4 '11 | Change |
| Net sales | 43,559,995 | 41,998,111 | 3.7 |
| Total costs and expenses | 40,287,121 | 37,367,132 | 7.8 |
| Earnings before income taxes | 3,272,874 | 4,630,979 | -29.3 |
| Income taxes | 1,067,978 | 1,428,404 | -25.2 |
| Net earnings | 2,204,896 | 3,202,575 | -31.2 |
| Basic | 6,799,444 | 6,799,444 | 0.0 |
| Diluted | 6,799,444 | 6,799,444 | 0.0 |
| Basic EPS | 0.32 | 0.47 | -31.9 |
| Diluted EPS | 0.32 | 0.47 | -31.9 |
In USD
| Item | FY '12 | FY '11 | Change |
| Net sales | 161,521,993 | 131,709,492 | 22.6 |
| Total costs and expenses | 149,315,433 | 119,595,779 | 24.9 |
| Earnings before income taxes | 12,206,560 | 12,113,713 | 0.8 |
| Income taxes | 4,056,096 | 3,958,076 | 2.5 |
| Net earnings | 8,150,464 | 8,155,637 | -0.1 |
| Basic | 6,799,444 | 6,799,444 | 0.0 |
| Diluted | 6,799,444 | 6,799,444 | 0.0 |
| Basic EPS | 1.2 | 1.2 | 0.0 |
| Diluted EPS | 1.2 | 1.2 | 0.0 |
In USD
Source - Friedman Industries Incorporated
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