Ameron International annual profit rises |
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Published
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Thu, 01 Feb 2007 15:47
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PASADENA, Calif. (AFX) - Ameron International Corp., which makes steel pipe and reinforced concrete pipe, said its annual earnings rose 60 percent but fourth-quarter profit tumbled.Annual earnings for the period ended Nov. 30 rose to $52.2 million, or $5.88 per share, from $32.6 million, or $3.80 per share in 2006. The results included a gain of 24 cents per share from the sale of its coatings and finishes business.Revenue improved 11 perecent to $549.2 million from $494.8 million in the year-ago period.The company reported brisk demand for it's fiberglass-composite pipe products, which witnessed a 32 percent sales gain. The improvement offset a 9 percent sales decline for it's water transmission products.The company said it's fourth-quarter earnings fell to $1.33 per share, compared with $1.53 per share during the same period a year earlier. Results from the fourth quarter of 2006 included a loss of 2 cents per share from discontinued operations, while income from discontinued operations boosted results from the same quarter in 2005 by 26 cents per share.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Ameron declares regular 20-cent dividend 