Dallas, Texas-based wire products manufacturer Keystone Consolidated Industries, Inc. reported Tuesday that net income in Q1 2012 was $7.3 million, compared to net income of $8 million in Q1 2011. Operating income during the quarter improved year-on-year from $8.15 million to $8.85 million. The improved operating results were primarily due to an increase in shipment volumes, a slightly higher margin between selling prices and raw material costs, increased productivity and lower utility costs.
Net sales improved to $153.3 million in Q1 2012, up from $134.2 million a year ago. However, cost of goods sold also increased year-over year, from $120.7 million to $137 million in Q1 2012.