North American Galvanizing & Coatings up on higher Q3 profit
North American Galvanizing & Coatings (Nasdaq: NGA) shares are up in pre-market trading after the Tulsa, Okla.-based firm reported third-quarter net earnings of $2.5 million, or $0.20 per share, up from $1.1 million, or $0.09 per share, a year earlier.
The company’s net sales for the three months ended Sept. 30 totaled $21.54 million, from $20.15 million during the same period of 2006. North American Galvanizing’s quarterly costs and expenses fell to $17.6 million, from $18 million during the prior-year period.
The firm also said it completed the move to the Nasdaq stock market on Aug. 2 without an interruption in trading activity. During the third quarter, the company bought 28,500 of its shares in open market transactions at an average price of $5.33 per share. The firm’s buyback program has $600,000 left in its balance.
In pre-market trading, NGA shares are up 12.65%, or $1.09, at $9.70. Over the last 52 weeks, shares have ranged from $2.96 to $11.97.
