Ameron Shares Gain on Strong Q2

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Ameron International Corp. said Thursday its second-quarter profit climbed 3 percent, thanks in part to strong sales in its fiberglass pipe division.


For the quarter ended June 1, Ameron reported net income of $16.3 million ($1.78 per share), compared to $15.8 million ($1.74) in the same period a year earlier.


Sales for the Pasadena-based water transmission pipe manufacturer rose 2 percent to $160 million, thanks to a 14 percent boost in sales of its fiberglass-composite pipe group and a jump in sales at Tamco, Ameron’s 50 percent-owned steel mini-mill.


Shares in Ameron were up 7.8 percent to $117.23 in early trading.

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