Houston, Texas-based Friedman Industries, Incorporated, a company engaged in pipe manufacturing, steel coil processing and steel and pipe distribution, announced Tuesday its results of operations for the quarter and year ended March 31, 2012. Net earnings for the year ended March 31, 2012, were $8,150,464 on net sales of $161,521,993. Income for the comparable quarter a year ago was $8,155,637 on sales of $131,709,492.
For the quarter ended March 31, 2012, Freidman reported net earnings of $2,204,896 on net sales of $43,559,995, down from $3,202,575 on net sales of $41,998,111 recorded during the quarter ended March 31, 2011.