MRC Global Inc. (NYSE: MRC), Houston, TX, first-quarter sales of $1.38 billion were up 39 percent from the first quarter of 2011. Profit was $37.5 million, compared to a year-ago net loss of $1.1 million.
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Within the company's North American segment, sales increased 35 percent to $1.26 billion, driven by strengthening activity within the North American shale plays, particularly those areas with heavy concentrations of oil and wet gas.
International segment sales increased 105 percent to $122 million, due to the acquisitions of Australia-based Stainless Pipe & Fittings and OneSteel Piping Systems as well as improved overall business activity.
Overall, organic growth contributed 34 percent to the top line increase and acquisitions accounted for the remaining 5 percent.
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