Overview

• Metal tubing maker's fiscal Q2 sales rose 9.4% yr/yr

• Net income for fiscal Q2 reached $0.5 mln, reversing prior yr loss

• Company repurchased 15,300 shares in fiscal Q2

Outlook

• Company did not provide specific guidance for future quarters or fiscal year in its press release

Result Drivers

• HIGHER GROSS PROFIT - Gross profit increased to $16.3 mln, or 11.5% of net sales, from $9.9 mln, or 7.6% of net sales, in prior yr qtr

• INCREASED SG&A EXPENSES - SG&A expenses rose to $14.2 mln due to higher incentive compensation and inflation in wages

Company press release: ID:nPnXxYfza

Key Details

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