Spain-based Tubacex, the world's second largest seamless stainless steel tube manufacturer, has issued its financial results for the first quarter of 2011, posting a net profit of €2.8 million, compared to a net loss of €9.3 million in the year-ago period, and posting positive results for a second consecutive quarter.
Tubacex' sales revenues of €119.56 million in the first quarter of 2011 saw a steep increase of 64.9 percent from €72.52 million in Q1 2010.