Quebec-based structural steel, buildings and bridge products fabricator Canam Group Inc. announced Tuesday net income of $4.5 million in Q2 2012, a substantial improvement from the $5.8 million net loss reported for the same period last year.
For the first six months of 2012, net income totaled $3.2 million compared with a net loss of $45.5 million for the corresponding period in 2011. Consolidated sales for the first six months of the year increased by 19 percent, from $369 million in 2011 to $440 million in 2012.
The increase in sales recorded in Q2 is mainly attributable to joist and steel deck activities in Canada and the United States. The results reflect a gradual improvement in the profit margins of joist, steel deck and bridge activities.