Tenaris S.A. reports second quarter earnings

Tenaris S.A. reports second quarter earnings

South American seamless steel pipe manufacturer Tenaris S.A. announced second quarter 2005 net sales increased 75 percent, driven by increasing global demand for seamless steel pipe. Net sales were $1.74 billion for the second quarter 2005, an increase over the $996.8 million seen for the same period in 2004. Year-to-date net sales were reported as $3.2 billion, a 41 percent increase from same period in 2004. Net income for the second quarter was reported as $341.6 million, or $0.27 per share, compared to $129 million, or $0.11 per share, for the second quarter 2004. Year-to-date 2005 net income was $621.6 million while year-to-date 2004 net income was $176.6 million. Tenaris is a leading global manufacturer and supplier of seamless steel pipe products and provider of pipe handling, stocking and distribution services to the oil and gas, energy and mechanical industries. It is also a leading regional supplier of welded steel pipes for gas pipelines in South America.