SYNL, Synalloy Corporation
** On its fourth quarter fiscal 2011, SYNL posted sales of $40,241,000, a 7% increase year over year and net earnings of $1,017,000, or $0.16 per share, down 30% compared to the same period the prior year, while its net earnings for 2011 increased 44% to $5,797,000 or $0.91 per share compared to $4,034,000 or $0.64 per share for 2010.
On SYNL's Metals Segment, sales increased 9% to $29,974,000 while operating income increased 35% to $1,948,000 in the fourth quarter of 2011 from the same period a year earlier. Sales (Metals Segment) for 2011 increased 18% to $127,727,000 and operating income of $9,338,000 was up 147% compared to the prior year period.
On SYNL's Specialty Chemicals Segment, revenues increased for the fourth quarter of 2011 by 2% compared to the fourth quarter of 2010. Sales (Specialty Chemicals Segment) for the year of 2011 were 1% higher than the prior year.
SYNL is structured as a holding company, currently comprised of two major groups: Metals and Chemicals.
Synalloy Metals is a leading manufacturer of stainless steel and alloy pipe and fabricated piping systems. Servicing industries throughout the United States, Canada, Australia, Europe, the Middle East and more, its union and non-union US production facilities in Tennessee and Arkansas are prepared to deliver quality products and unsurpassed customer service via two divisions.
* SYNL's BRISMET pipe division is the largest domestic producer of manufactured pipe, from stainless steel and other alloys for the chemical, mining, petrochemical, pulp and paper, liquid natural gas (LNG), pharmaceutical, power generation, brewery, food processing, waste water treatment, nuclear and other industries.
* SYNL's fabrication division operates two facilities:
- BristolFab provides complete turnkey pipe fabrication solutions across various market segments including pulp and paper, petro-chemical, water/wastewater, food and beverage, chemical, OEM, pharmaceutical, clean water technology, micro-electronics, metals/steel, mining, heavy manufacturing and related industries.
- Ram-Fab has over 20 years' experience servicing the critical demands of the power, petroleum and chemical markets with high quality affordable pipe and is an industry leader in the fabrication of carbon steel and stainless steel piping systems.
SYNL's Specialty Chemicals Group operates as Manufacturers Chemicals, LLC located in Cleveland, Tennessee and Dalton, Georgia. It produces specialty chemicals for the carpet, chemical, paper, metals, mining, agricultural, fiber, paint, textile, automotive, petroleum, cosmetics, mattress, furniture, janitorial and other industries.
More about SYNL at www.synalloy.com
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