NetComposites
Advanced Engineering 2018

Ameron International's Second-Quarter Earnings

28 June 2000

Ameron International Corporation reported results for the second quarter ended May 31, 2000: Sales totalled $140.2 million, compared to sales of $149.5 million for the second quarter of fiscal 1999. James Marlen, Ameron's Chairman, President and Chief Executive Officer, stated, "We remain pleased with Ameron's performance in 2000. As expected, sales for the first half were slower than in 1999, reflecting the weakness in certain markets served by Ameron's Performance Coatings & Finishes and Fiberglass-Composite Pipe businesses." Fiberglass-Composite Pipe Group sales increased in the second quarter due to the sharp rise in demand for oil field piping. Corresponding profits were lower because of lower sales of fuel-handling piping and the costs of ramping up production to meet demand for oil field piping. In 1999, Fiberglass-Composite Pipe benefited from greater sales of higher-margin, fuel-handling piping used for government-mandated conversions of gas stations.