SPARTANBURG, S.C., April 19, 2013 (GLOBE NEWSWIRE) -- Synalloy Corporation (Nasdaq:SYNL), a holding company owning subsidiaries that engage in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that the first quarter of 2013 produced net sales of $57,836,000, up 22% compared to net sales of $47,372,000 for the first quarter of 2012. Net earnings for the first quarter of 2013 were $1,465,000 or $0.23 per share, up 10% over net earnings of $1,337,000, or $0.21 per share for 2012's first quarter. Earnings before interest, taxes, depreciation and amortization ("EBITDA"), a non-GAAP measure of earnings, was $3,749,000 in the first quarter of 2013, or $0.58 per share. This was an increase of 33% over the first quarter of 2012 when EBITDA was $2,816,000, or $0.44 per share.
Synalloy Reports Higher First Quarter 2013 Sales, Earnings And Fabrication Backlog
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