Moro Corporation reports third quarter 2005 earnings

Moro Corporation reports third quarter 2005 earnings

Pennsylvania-based rebar fabricator Moro Corp. reported third quarter 2005 net revenue increased 23 percent, due mainly to increased demand and higher selling prices for the company's products and services. Net revenue increased 23 percent to $10.3 million for the third quarter as compared to $8.4 million for the same period a year ago. 2005 year-to-date sales were $21.5 million and $25 million for the same period 2004. Net income for the third quarter 2005 increased to $611’000, or $0.10 per share, as compared to $282’000, or $0.05 per share, for the same 2004 period. Year-to-date net income for 2005 was $1.2 million and $800’000 for the same period in 2004. David W. Menard, president and CEO, said, "Moro's trailing twelve month EPS as of September 30, 2005 was $0.25 compared with $0.17 as of a year ago, an increase of 47%. We expect that performance for the fourth quarter of 2005 will continue to be strong." Moro is a profitable and financially strong 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).