Synalloy Corp. (SYNL) announced that net earnings for the second quarter of 2012 were $1.09 million or $0.17 per share, down from $1.71 million or $0.27 per share for 2011's second quarter.
Inventory losses in Metals Segment had a negative impact on the Company's reported earnings in this year's second quarter, while inventory profits increased the Company's reported earnings in the second quarter.
The approximate effect of inventory losses on this year's second quarter was a reduction of reported earnings by $0.14 per share, while the inventory profits increased reported earnings per share for the same periods of the prior year by $0.03 per share.
Net sales were $46.88 million, up 13% compared to net sales of $41.40 million for the second quarter of 2011.
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