Friedman Industries, Inc. (FRD) Reports Results for Third Quarter of 2010
Friedman Industries, Inc. reported a large increase in revenues and net income in the quarter ending September 30, 2010. The company attributed the strong results to higher volume and selling prices relative to the same quarter last year. Friedman Industries, Inc. reported net income of $1.78 million, or $0.26 per diluted share, in the second quarter of fiscal 2011. The company reported a loss of $0.21 million, or ($0.03) per diluted share, in the corresponding quarter in fiscal 2010. Friedman Industries, Inc. reported revenues of $29.3 million in the second quarter of fiscal 2011, up markedly from the $16.1 million…