Arabian Pipes Co. — Earnings Release 2011

Apr 20, 2011

ARABIAN PIPES COMPANY ANNOUNCES ITS FINANCIAL RESULTS FOR THE PERIOD ENDED 31/03/2011 (THREE MONTHS)

2200 · 20/04/2011 09:09:22 · Announcement #21445 · View on Saudi Exchange

ARABIAN PIPES COMPANY ANNOUNCES ITS FINANCIAL RESULTS FOR THE PERIOD ENDED 31/03/2011 (THREE MONTHS)

1 - Net loss for the year amounted to SR 961 thousand compared with profit SR 1.2 Million for the corresponding period last year and compared with loss 8.2 million for the previous Qtr with improve 88%

2 - Gross profit for the period amounted to SR 3 Million compared to SR 12.7 Million for the corresponding period last year, a decrease of 76%.

3 - The operating loss for the period amounted to SR 1.4 Million compared to profit SR 1.5 Million for the corresponding period last year

4 - Loss per share SR 0.03 compared with earnings SAR 0.04 for the same period last year.

5 -The reason of 1st Qtr losses due to the most of Jubail factory orders in hands not yet start productions, thus all fixed cost included Jubail machinery and assets depreciation effect the production cost and gross profit result also the improve compare with last Qtr due to start some production in Jubail factory and reducing the fixed cost compare with last Qtr, also the company management expecting an improvement in performance with start produce the orders in hand during the year

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