Friedman Industries, Incorporated Announces Second Quarter Results

Friedman Industries, Incorporated (NYSE - American; trading symbol: FRD):

Friedman Industries, Incorporated, a Texas-based company engaged in pipe manufacturing, steel coil processing and steel and pipe distribution, announced today its results of operations for the second quarter. For the quarter ended September 30, 2017, the Company recorded net earnings of $310,039 ($0.04 diluted earnings per share) on sales of $26,077,710. During the quarter ended September 30, 2016, the Company recorded a net loss of $603,882 ($0.09 diluted loss per share) on sales of $18,317,506.

    
      
        
        
        
           
        
        
           
        
        
           
        
        
        
        
           
        
        
           
        
        
           
        
        
        
        
           
        
        
           
        
        
           
        
        
        
        
           
        
        
           
        
        
           
        
        
        
      
      
        
          SUMMARY OF OPERATIONS (unaudited)
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
          

THREE MONTHS ENDED SEPT. 30,

SIX MONTHS ENDED SEPT. 30,

2017

2016

2017

2016

        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Net sales
        
        
        
        
        
        
        
        
          $
        
        
          26,077,710
        
        
        
        
        
        
        
        
          $
        
        
          18,317,506
        
        
        
        
        
        
        
        
        
        
          $
        
        
          49,160,979
        
        
        
        
        
        
        
        
          $
        
        
          40,711,270
        
        
        
      
      
        
          Total costs and
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          other income
        
        
        
        
        
        
        
        
        
        
          25,620,690
        
        
        
        
        
        
        
        
        
        
          19,264,296
        
        
        
        
        
        
        
        
        
        
        
        
          48,474,555
        
        
        
        
        
        
        
        
        
        
          43,989,048
        
        
        
      
      
        
        
        
        
        
        
        
        
        
           
        
        
        
        
        
        
        
        
           
        
        
        
        
        
        
        
        
           
        
        
        
        
        
        
        
        
           
        
      
      
        
          Earnings (loss) before
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          income taxes
        
        
        
        
        
        
        
        
        
        
          457,020
        
        
        
        
        
        
        
        
        
        
          (946,790
        
        
          )
        
        
        
        
        
        
        
        
        
        
          686,424
        
        
        
        
        
        
        
        
        
        
          (3,277,778
        
        
          )
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Income taxes
        
        
        
        
        
        
        
        
        
        
          146,981
        
        
        
        
        
        
        
        
        
        
          (342,908
        
        
          )
        
        
        
        
        
        
        
        
        
        
          205,765
        
        
        
        
        
        
        
        
        
        
          (1,212,677
        
        
          )
        
      
      
        
        
        
        
        
        
        
        
        
           
        
        
        
        
        
        
        
        
           
        
        
        
        
        
        
        
        
           
        
        
        
        
        
        
        
        
           
        
      
      
        
          Net earnings (loss)
        
        
        
        
        
        
        
        
          $
        
        
          310,039
        
        
        
        
        
        
        
        
          $
        
        
          (603,882
        
        
          )
        
        
        
        
        
        
        
        
          $
        
        
          480,659
        
        
        
        
        
        
        
        
          $
        
        
          (2,065,101
        
        
          )
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Weighted average shares outstanding:
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          Basic
        
        
        
        
        
        
        
        
        
        
          7,009,444
        
        
        
        
        
        
        
        
        
        
          6,799,444
        
        
        
        
        
        
        
        
        
        
        
        
          7,009,444
        
        
        
        
        
        
        
        
        
        
          6,799,444
        
        
        
      
      
        
          Diluted
        
        
        
        
        
        
        
        
        
        
          7,009,444
        
        
        
        
        
        
        
        
        
        
          6,799,444
        
        
        
        
        
        
        
        
        
        
        
        
          7,009,444
        
        
        
        
        
        
        
        
        
        
          6,799,444
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Net earnings (loss) per share:
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          Basic
        
        
        
        
        
        
        
        
          $
        
        
          0.04
        
        
        
        
        
        
        
        
          $
        
        
          (0.09
        
        
          )
        
        
        
        
        
        
        
        
          $
        
        
          0.07
        
        
        
        
        
        
        
        
          $
        
        
          (0.30
        
        
          )
        
      
      
        
          Diluted
        
        
        
        
        
        
        
        
          $
        
        
          0.04
        
        
        
        
        
        
        
        
          $
        
        
          (0.09
        
        
          )
        
        
        
        
        
        
        
        
          $
        
        
          0.07
        
        
        
        
        
        
        
        
          $
        
        
          (0.30
        
        
          )
        
      
      
        
          

 

For further information, please refer to the Company's Form 10-Q as filed with the U.S. Securities and Exchange Commission on November 13, 2017 or contact Alex LaRue, Vice President - Secretary and Treasurer, at [phone].

View source version on businesswire.com: http://www.businesswire.com/news/home/20171113006365/en/

Friedman Industries, IncorporatedAlex LaRue, [phone]Vice President - Secretary and Treasurer