On Friday, January 8, AZZ incorporated, Texas, US-based manufacturer of electrical products and a provider of galvanizing services to the steel industry, announced its unaudited financial results for the third quarter and first nine months, ended November 30, 2009, of the fiscal year 2009-10.
Revenues for the third quarter were $81.5 million compared to $108.9 million for the same quarter last year, with a decrease of 25.1 percent. Net income for the third quarter was $8.7 million, compared to net income of $10.8 million in the third quarter of the previous fiscal year.
For the nine-month period ended November 30, 2009, the company reported revenues of $272.2 million compared to $312.1 million for the comparable period last year, with a decrease of 12.8 percent. Net income for the nine months in question was $29.8 million, compared to $32.2 million in the comparable period of the previous year.
Revenues for the company's galvanizing service segment decreased 19 percent to $37.9 million for the third quarter ending November 30, compared to $46.9 million in the corresponding quarter of the previous year.