Synalloy posts 4Q profit

Associated Press |

RICHMOND, Va. (AP) _ Synalloy Corp. (SYNL) on Tuesday reported fourth-quarter net income of $1 million, after reporting a loss in the same period a year earlier.

The Richmond, Virginia-based company said it had profit of 11 cents per share. Earnings, adjusted for non-recurring costs, were 13 cents per share.

The maker of stainless steel pipe, storage tanks and specialty chemicals posted revenue of $52.8 million in the period.

For the year, the company reported net income of $1.3 million, or 15 cents per share, swinging to a profit in the period. Revenue was reported as $201.1 million.

Synalloy shares have increased 4 percent since the beginning of the year. The stock has risen 36 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SYNL at https://www.zacks.com/ap/SYNL

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