Northwest Pipe Posts Q2 Results

Company reports weakness in second quarter, as sales rise just 0.3 percent.

Northwest Pipe Co. (Nasdaq:NWPX), Vancouver, WA, reported second-quarter sales of $28.8 million, up 0.3% compared to the second quarter of 2017, and down nearly 14% from the previous quarter. The manufacturer of engineered welded steel pipeline systems reported a loss of $5.7 million for the quarter, compared with a loss of $1.4 million in the year-ago period.

Northwest Pipe said it expects a stronger second half of the year. The company recently announced its acquisition of Ameron Water Transmission Group, which is part of a multi-year transformation to grow the business into a pure-play water company.

“…We expect this acquisition to result in significant administrative and operational cost synergies, an expansion to our product offering and an enhanced ability to meet customer needs in a market that is expected to grow over the next few years,” said Scott Montross, president and CEO.


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