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For full year 2009, sales were $4.39 billion, down 29.6% from 2008. Profit declined 42.6% to $108.4 million.
"All of our markets remain intensely competitive. In addition, metal prices escalated quickly in December and January, further squeezing margins as we try to recover these higher costs in the market," said Gregory P. Kenny, president and CEO. "As we exited the fourth quarter, several of our earlier cycle product lines in the United States were beginning to experience some demand stabilization but still well below 2006 and 2007 peak levels. However, this is likely to be more than offset by a lack of investment and weak pricing for electric utility products."
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| Digital Strategy Manager | Border States Electric | Fargo North Dakota |
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