Friedman Industries Q4 Profit Down

6/19/2012 5:09 PM ET

Friedman Industries, Inc. (FRD: Quote) Tuesday reported a drop in fourth-quarter profit, hurt mainly by higher expenses offsetting growth in revenues.

Net income for the quarter decreased to $2.2 million or $0.32 per share from $3.2 million or $0.47 per share in the prior-year quarter.

Fourth-quarter revenues increased to $43.6 million from $42.0 million last year.

Costs and expenses for the quarter totaled $40.3 million, compared to $37.4 million last year.

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