Northwest Pipe Company Announces Major Order and Updates Expectations.Business Editors PORTLAND, Ore.--(BUSINESS WIRE)--April 12, 2004 Northwest Pipe Company (Nasdaq:NWPX) reported today that it was named as a supplier of approximately $9 million of fabricated fab·ri·cate tr.v. fab·ri·cat·ed, fab·ri·cat·ing, fab·ri·cates 1. To make; create. 2. To construct by combining or assembling diverse, typically standardized parts: carbon and stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. pipe and fittings for J.F. Shea Construction of Walnut, California Walnut is a city in Los Angeles County, California, United States. The population is 32,148 and its current mayor is Tony Cartagena. The area was once predominantly white. . The order is for an Orange County Water District Orange County Water District (OCWD) manages the large groundwater basin that provides reliable, high-quality groundwater to 20 cities and water agencies and their 2.3 million customers in north and central Orange County, CA. and Orange County Sanitation District joint project. The material is expected to be manufactured at the company's Adelanto, California Adelanto is a city in San Bernardino County, California about 9 miles northwest of Victorville. The population was 18,130 at the 2000 census. The name Adelanto is Spanish for progress or advance division with delivery scheduled to begin in the summer of 2004. The pipe will be used in the Advanced Water Treatment Facility, part of the Groundwater Replenishment System in Orange County. "We are pleased to be involved in this major, technologically advanced project," said Brian Dunham, chief executive officer. The company also indicated earnings for the first quarter are expected to exceed analysts' expectations. "We were able to increase our capacity utilization Capacity Utilization measures the rate at which a firm makes use of their capital productive capacities, such as factories and machinery. Capacity Utilization generally rises when the economy is healthy and falls when demand softens. in the Water Transmission Group due to some timely projects," said Dunham. "While we still ran at less than optimal levels, we were able to generate higher revenues and earnings during the quarter than previously expected." Northwest Pipe Company manufactures welded steel pipe in two business segments. Its Water Transmission Group is a leading supplier of large diameter, high-pressure, steel pipe products used primarily for water transmission in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. Its Tubular Products Group manufactures smaller diameter steel pipe for a wide range of construction, agricultural, energy, industrial and mechanical applications. The company is headquartered in Portland, Oregon and operates eleven manufacturing facilities in the United States and Mexico. This release contains forward-looking statements, including but not limited to those regarding the company's expectations as to market and financial performance as a result of the above contract, which reflect management's current views and estimates of market circumstances, industry conditions and company performance. Actual results could vary materially from the description contained herein due to many factors including market demand, operating efficiencies, availability and price of raw materials, and other risks described from time to time in the company's reports to the Securities and Exchange Commission. |
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