Boucherville, Quebec-based construction products fabricator Canam Group Inc. announced Wednesday its net earnings of $2.1 million for Q3 2010, compared with $4.4 million for the same quarter in 2009. Consolidated sales for the quarter rose 46 percent to $211.9 million versus $144.7 million for Q3 2009.
For the first nine months of 2010, the company's net loss was $0.9 million compared to $15 million for the corresponding period in 2009. Consolidated sales for the first nine months of 2010 totaled $502.9 million, up 5.6 percent from $476.2 million last year.
President and chief operating officer Marc Dutil said that the growth in the third quarter sales resulted from a higher volume of structural steel construction projects and the acquisition of structural steel fabricator FabSouth earlier this year.