Synalloy (SYNL) Misses Q2 EPS by 17c
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Synalloy Reports Second Quarter 2016 Results: Weak Economic Fundamentals Drive Depressed Sales and Profits - Lowered Expectations for Full Year 2016
August 9, 2016 7:01 AM EDTRICHMOND, Va., Aug. 09, 2016 (GLOBE NEWSWIRE) -- Synalloy Corporation (Nasdaq: SYNL), today announced net sales for the second quarter of 2016 of $34.9 million. This represents a decrease of $15.3 million or 30% when compared to net sales for the second quarter of 2015. Net sales for the first six months of 2016 were $71.2 million, down $30.6 million or 30% from 2015.
For the second quarter of 2016 the Company recorded a net loss from continuing operations of $1.6 million, or $0.18 per share. This compares to net earnings from continuing operations of $2.5 million, or $0.28 per share for second quarter 2015. For the... More
