Webco Industries Q4 sales rise 20% but net income falls
WEBC•Webco Industries' fiscal fourth-quarter sales rose 20% year over year to $189.7 million, while net income declined to $5 million.
1. Quarterly results
Webco Industries reported fiscal fourth-quarter sales of $189.7 million and net income of $5 million. Gross profit was $27.7 million, and income from operations was $7.7 million. Selling, general and administrative expenses increased due to higher incentive compensation, variable pay and inflation in wages and other expenses; the company provided no specific outlook guidance or commentary.
