Vancouver, Washington-based pipe manufacturer Northwest Pipe Company reported Tuesday that net income of $3.6 million in Q1 2011 tripled over $1.1 million net income in Q1 2010. Sales jumped 38.7 percent to $111.5 million in Q1 2011.
Sales in both Northwest Pipe's water transmission and tubular products group reported higher sales, but tubular products jumped 90.7 percent year-over-year while water transmission sales rose 11.3 percent. Tubular products sales totaled $52.8 million in Q1 2011 compared to $27.7 million in Q1 2010 due to increases in tons sold, and higher selling prices per ton. The company said that the most significant increase in demand was for energy pipe resulting from increases in natural gas and oil drilling operations.