Northwest Pipe reports loss for 2014

Vancouver, Washington-based Northwest Pipe Company has announced that in 2014 it registered a net loss of $17.8 million, compared to a net loss of $923,000 in the previous year. The company's sales revenues in the given year increased by 12.2 percent to $403.3 million, compared to the previous year. In 2014, Northwest Pipe sold 164,600 mt of tubular products, increasing by 24 percent year on year.
 
According to Northwest Pipe, the sudden and swift decline in crude oil prices is expected to have significant near-term impacts on order intake, production and inventory values in the tubular products segment. As a result, the company expects a small gross loss for tubular products in the first quarter of 2015.