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Location: Home » News » Steel Pipe knowledge » Tube City parent company reports first-ever dividend

Tube City parent company reports first-ever dividend

Release Date:2013-05-03  Hits:9005
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The Glassport steel industry supplier said net income totaled $8.1 million, or 21 cents per share on sales of $589.6 mil

The Glassport steel industry supplier said net income totaled $8.1 million, or 21 cents per share on sales of $589.6 million vs. earnings of $411,000, or 1 cent per share, and sales of $747 million in the year-ago quarter.World Steel Tube News The first-quarter 2012 results reflected a $12.3 million expense for paying down debt early, which reduced interest expense in the most recent quarter.
"Our first quarter was consistent with our expectations, given the challenging industry environment we continue to face," president and CEO Raymond Kalouche said in a news release.World Steel Tube News
Analysts were expecting the company to earn 26 cents per share on sales of $625 million.
TMS said it will pay a 10-cent-per-share dividend July 3 to shareholders of record May 16.
The results were announced before Wall Street opened. In early trading, TMS shares were priced at $13.95, down 3 cents. They are up 11 percent this year.World Steel Tube News
First Published April 25, 2013 10:18 amWorld Steel Tube News

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