Ameron International Corp. on Thursday reported better-than-expected second-quarter net income, boosted by greater pipe sales to oil and mining companies in both North and South America.

The Pasadena maker of industrial pipes reported net income of $9.5 million ($1.03 per share) for the quarter ended May 31, compared with net income of $9.4 million ($1.02) a year earlier.

Revenue rose 2.7 percent to more than $136 million, with sales in the company’s fiberglass-composite pipe group up 16 percent to $64.7 million.

Analysts surveyed by Thomson Reuters on average expected per-share profit of 70 cents on revenue of less than $124 million.

In addition to its oilfield and mining markets, Ameron’s sales to the marine industry also remained strong. There continued to be weakness the company’s infrastructure product group, due to slower activity in residential and commercial construction, particularly in Hawaii.

“We are encouraged by the second-quarter sales increase and the level of profitability, especially given the difficult market conditions and the weakness of the first quarter,” said Chief Executive James S. Marlen in a statement. “As expected, 2010 continues to be challenging. … Although difficult market conditions are expected to continue, we are cautiously optimistic for the balance of the year.”

Shares were up $1.73, or 2.8 percent, to $64.51 in midday trading on the New York Stock Exchange.