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Northwest Pipe's (NWPX) CEO Scott Montross on Q4 2017 Results - Earnings Call Transcript

Mar. 01, 2018 12:35 PM ETNorthwest Pipe Company (NWPX) Stock
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Northwest Pipe Co (NASDAQ:NWPX) Q4 2017 Earnings Conference Call March 1, 2018 10:00 AM ET


Scott Montross - President, CEO & Director

Robin Gantt - CFO, SVP and Corporate Secretary


Zane Karimi - Brent Thielman


Welcome, and thank you all for standing by. [Operator Instructions]. As a reminder, this call is being recorded. If you have any objections, you may disconnect at this point. Now I will turn the meeting over to your host, Chief Executive Officer, Scott Montross. You may now begin.

Scott Montross

Thank you, Messie. Good morning, and welcome to Northwest Pipe's Conference Call. My name is Scott Montross. I'm President and CEO of the company, and I'm joined by Robin Gantt, our Chief Financial Officer.

As we begin, I would like to remind everyone that the statements we make in this call about our expectations for the future are forward-looking statements and actual results could differ materially. Please refer to our most recent SEC filing on form 10-K for a discussion of risk factors that could cause actual results to differ materially from expectations.

I will now turn to Robin, who will discuss our fourth quarter and full year results.

Robin Gantt

Thank you, Scott. Our fourth quarter net loss from continuing operations was $1.8 million or $0.20 per diluted share compared to net income of $6.8 million or $0.70 per diluted share in the fourth quarter of 2016. Our fourth quarter 2016 net income included the pretax gain on the sale of our Denver facility of $7.9 million. Sales decreased to $35.6 million in the fourth quarter of 2017 from $39.2 million in the fourth quarter of 2016. Gross profit as a percent of sales was 5.8% in the fourth quarter of 2017 compared to 9.6% in the fourth quarter of 2016.

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