SPARTANBURG, S.C., Oct. 26, 2010 (GLOBE NEWSWIRE) -- Synalloy Corporation (Nasdaq:SYNL), a producer of stainless steel pipe, fabricator of stainless and carbon steel piping systems, and producer of specialty chemicals, announces that the third quarter of 2010 produced net earnings of $1,412,000, or $0.22 per share, on a 63% sales increase to $41,932,000. This compares to a net income from continuing operations of $281,000, or $0.04 per share, on sales from continuing operations of $25,712,000, in 2009's third quarter. For the nine months ended October 2, 2010, sales were $113,481,000, up 46% from sales of $77,797,000 for the same period of 2009. Net earnings for the first nine months of 2010 were $2,572,000, or $0.41 per share, compared to net earnings from continuing operations of $362,000 or $0.06 per share for the same period last year.
Synalloy Corporation Announces Third Quarter Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.