US-based Northwest Pipe Company has announced its financial results for the third quarter and the first nine months of 2012. Net sales for the quarter decreased 17.6 percent to $115.1 million compared to the same quarter of 2011. Net income for the given quarter was $3.4 million, up 3.4 percent year on year.
In the first nine months of the current year, Northwest Pipe's net sales amounted to $388.3 million, declining by 1.6 percent year on year. The company registered a net income of $11.73 million in January-September, rising by 4.9 percent compared to the corresponding period of the previous year.
Sales in Northwest Pipe's tubular products segment decreased 17.2 percent year on year to $51.6 million in the third quarter, while it increased 12.4 percent to $207.3 million in the first nine months. In the third quarter, the company saw an 18 percent year-on-year decrease in sales tonnage to 42,900 tons.