(Correction: The original article incorrectly said the company reported a net loss. A corrected version follows.)
MRC Global Inc. (MRC) reported net income for the first quarter of $46.18 million or $0.45 per share, compared to net income of $37.53 million or $0.44 per share for the year-ago quarter.
Sales for the current quarter declined to $1.305 billion from $1.382 billion in the year-ago quarter.
Analysts polled by Thomson Reuters expected the company to earn $0.43 per share on revenue of $1.34 billion for the quarter. Analysts' estimates typically exclude special items.
Looking forward to the full year 2013, the company forecast revenue of $$5.75 billion to $5.95 billion and earnings of $2.10 to $2.30 per share. Analysts currently expect the company to earn $2.30 per share on revenue of $5.92 billion for the full year 2013.
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