Vancouver Washington US based leading manufacturer of water-related infrastructure Northwest Pipe Company announced that its net sales increased by 51.2% YoY to USD 109.3 million in January-March 2022 quarter, while net income was USD 3.6 million as compared to USD 2.2 million in the first quarter of 2021. Northwest Pipe President & Chief Executive Officer Mr Scott Montross said “Our precast business remained strong in the first quarter generating USD 34.6 million in revenue and a gross profit margin nearing 22%. We ended the first quarter with a record precast order book of USD 66 million. We expect the order book to continue to grow for the near term which should facilitate further margin expansion as we progress through what appears to be a very strong precast market in 2022.”Mr Montross added “We experienced very strong steel pressure pipe bidding during the first quarter of 2022 which elevated our backlog including confirmed orders to an all-time record of USD 341 million. Despite the first quarter being projected to be the largest bidding period of the year, we expect bidding to be fairly solid throughout 2022 and backlog to remain elevated compared to recent historical levels. The improving quality of the backlog is expected to lead to SPP margin expansion into the mid-teens beginning in the second quarter. As we have discussed earlier, SPP gross profit margins remained muted in the first quarter due to the extremely small bidding market and associated bidding pressures we experienced in 2021. In addition, we recorded a discrete charge for a settlement of a product liability claim on a dispute that originated in 2015, which reduced our gross profit for the quarter. Without the settlement charge, our first quarter SPP margins would have been similar to those realized in both the first and fourth quarters of 2021.”Founded in 1966, Northwest Pipe Company is a leading manufacturer of water-related infrastructure products. In addition to being the largest manufacturer of engineered steel water pipeline systems in North America, the Company manufactures high-quality precast and reinforced concrete products; water, wastewater, and storm water equipment; steel casing pipe; bar-wrapped concrete cylinder pipe; and one of the largest offerings of pipeline system joints, fittings, and specialized components.