Friedman Industries, Incorporated Announces Fourth Quarter and Fiscal Year 2015 Results of Operations

HOUSTON--(BUSINESS WIRE)--Friedman Industries, Incorporated (FRD, NYSE MKT), a Texas-based company engaged in pipe manufacturing, steel coil processing and steel and pipe distribution, announced today its results of operations for the quarter and year ended March 31, 2015. Net earnings for the year ended March 31, 2015, were $382,330 ($0.06 earnings per share diluted) on net sales of $108,322,780. During the year ended March 31, 2014, the Company recorded net earnings of $1,712,926 ($0.25 earnings per share diluted) on sales of $116,149,022.

For the quarter ended March 31, 2015, the Company recorded a net loss of ($452,718) ($0.07 loss per share diluted) on net sales of $25,321,149 compared to net earnings of $389,440 ($0.06 earnings per share diluted) on net sales of $31,981,813 recorded during the quarter ended March 31, 2014.

	SUMMARY OF OPERATIONS
	(unaudited)
	THREE MONTHS ENDED MAR. 31,					YEAR ENDED MAR. 31,
	2015			2014		2015		2014
Net sales	$	25,321,149		$	31,981,813	$	108,322,780	$	116,149,022
Total costs and
other income		25,958,910			31,387,604		107,636,964		113,612,314
Earnings (loss) before
income taxes		(637,761	)		594,209		685,816		2,536,708
Income taxes		(185,043	)		204,769		303,486		823,782
Net earnings (loss)	$	(452,718	)	$	389,440	$	382,330	$	1,712,926
Weighted average shares outstanding:
Basic		6,799,444			6,799,444		6,799,444		6,799,444
Diluted		6,799,444			6,799,444		6,799,444		6,799,444
Net earnings per share:
Basic	$	(0.07	)	$	0.06	$	0.06	$	0.25
Diluted	$	(0.07	)	$	0.06	$	0.06	$	0.25

For further information, please refer to the Company's Form 10-K as filed with the U.S. Securities and Exchange Commission on June 11, 2015 or contact Alex LaRue, Vice President - Secretary and Treasurer at [phone].