Sand Springs, Oklahoma-based Webco Industries, Inc., a value-added distributor of carbon steel, stainless steel and other metal tubular products, reported significantly higher net income in fiscal Q3 2011 (ended April 30, 2011).
Net income totaled $7.7 million in fiscal Q3 2011, up from net income of $1 million in fiscal Q3 2010 as net sales jumped 45.2 percent year-on-year to $120.4 million. Financial results in the first nine months of 2011 are even more dramatic. Net income for the first nine months of fiscal 2011 amounted to $19.1 million compared to net income of $1.6 million over the same period in fiscal 2010.