Shares in Ameron International Corp. soared as much as 14 percent Thursday and continued to gain Friday after the company reported strong earnings.

The maker of engineered products for the chemical, energy and transportation markets reported second-quarter net income of $16 million ($1.74 per share) a 16 percent slip from $19 million ($2.11) from the same period a year earlier. However, the 2006 results were buoyed by a one-time gain of $9 million from the sale of property.

Sales for the Pasadena-based company rose 18 percent to $157 million thanks to strong demand and improved sales in fiberglass-composite pipe, infrastructure products and water transmission groups, the company said.

During tradingThursday, shares in Ameron hit a 52-week high of $93.87, but settled down and closed the day up $6.66, or 8 percent, to $89.95 in trading on the New York Stock Exchange. However, shares picked back up in afternoon trading Friday, adding another $3.59, or 4 percent, to $93.54.