Moro Corporation reports second quarter earnings

Moro Corporation reports second quarter earnings

Rebar fabricator Moro Corporation, located in Wayne, Pennsylvania, announced second quarter earnings per share increased 29 percent, due largely to increased demand for the company's products and services.” Revenue was $9.2 million for the second quarter 2005, an increase over the $7.9 million seen for the same period in 2004. Year-to-date net sales were reported as $14.7 million, an 11 percent increase from same period in 2004. Net income for the second quarter was reported as $567’000, or $0.09 per share, compared to $445’000, or $0.07 per share, for the second quarter 2004. Year-to-date 2005 net income was $598’000 while year-to-date 2004 net income was $518’000. David W. Menard, President and CEO, commented: "We earned $.18 per share for full year 2004. Through June 30, 2005 we are $.02 per share ahead of last year. We expect that performance for the second half of 2005 will continue to be strong." Moro is a multi-location and multi-subsidiary company engaged in the fabrication of concrete reinforcing steel (rebar), sheet metal (duct work), structural steel and process piping, distribution of construction steel, miscellaneous steel and construction accessories, and mechanical contracting services (HVAC, plumbing, piping).