On February 17, Nebraska, US-based producer of engineered steel structures Valmont Industries Inc. issued its financial results for the fourth quarter of 2010 and the whole year, stating that the contribution to sales and earnings from acquired company Delta and a significant improvement in irrigation and coatings segment sales drove fourth quarter results.
In the fourth quarter of 2010, net profit attributable to Valmont Industries Inc. was $34.9 million, compared to a net profit of $30 million in the same period of 2009. Fourth quarter net sales increased 50 percent, including $143.3 million related to Delta. Net sales of $598.7 million in the fourth quarter compared with $398.6 million in the same quarter of the previous year.
In the year of 2010, net profit attributable to Valmont Industries Inc. was $94.4 million, compared to a net profit of $150.6 million in the previous year. Net sales of $1.98 billion in 2010 compare with $1.79 billion in 2009.
With respect to its outlook for earnings in 2011, the company expects its net profit attributable to Valmont Industries Inc. to increase by between 35-45 percent.
As SteelOrbis previously reported, Valmont Industries in March consented to buy UK-based engineered steel products manufacturer and galvanizing services provider Delta Plc, carrying out the acquisition afterwards.