Synalloy Reports Third Quarter 2017 Results: Strengthening Demand Spurs Strong Sales and Profitability Growth
Synalloy Corporation (SYNL)
US:NASDAQ Investor Relations:
investor.synalloy.com/investor-relations
Company Research
Source: GlobeNewswire
RICHMOND, Va., Nov. 07, 2017 (GLOBE NEWSWIRE) -- Synalloy Corporation (Nasdaq:SYNL), today announced net sales for the third quarter of 2017 of $54.6 million. This represents an increase of $20.3 million or 59% when compared to net sales for the third quarter of 2016. Excluding the impact from the acquisition of the stainless steel pipe and tube operations of Marcegaglia USA, Inc. (“Bristol Metals-Munhall”), third quarter net sales were up 34% over the same period last year. Sequential quarterly growth in net sales over the second quarter of this year was 6%. Net sales for the first nine months of 2017 were $148.3 million, an increase of $42.8 million or 41% from 2016. Excluding Bristol Metals-Munhall, year to date net sales were up 24%. For the third quarter of 2017, the Company recorded a net loss from continuing operations of $1.2 million, or $0.14 loss per share compared to a net loss from continuing operations of $2.6 million, or $0.30 loss per share for third quarter 2016. T
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