WASHINGTON (dpa-AFX) - Synalloy Corp. (SYNL), Friday, reported a lower profit for the first quarter on inventory losses of metal segment.
The Spartanburg, South Carolina-based company reported a first-quarter net profit of $1.34 million or $0.21 per share, compared to $2.50 million or $0.39 per share last year, affected by inventory losses of metal segment.
Total revenues for the quarter grew 11 percent to $47.37 million from $42.74 million in the prior-year quarter.
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