Tenaris announces 2004 financial results

Tenaris announces 2004 financial results

Luxembourg-based seamless steel pipe producer Tenaris S.A recently announced financial results for the twelve-month period ended on December 31, 2004. The company posted net sales of $4.1 billion during the period, which indicates a 30% increase from $3.1 billion in 2003. The operating income of the company rose to $813.3 million, up 182% from $288.2 million in 2003. Net income was listed as $784.7 million, up 273% compared to $210.3 million in the previous year. Tenaris officials expressed that these strong results reflect strong market demand and growth in their seamless pipe business.