Webco Industries, Inc. (WEBC.PK)

Webco Industries, Inc. engages in the manufacture and distribution of carbon steel, stainless steel, and other metal tubular products. Its tubing products consist primarily of pressure tubing and specialty tubing. Webco’s pressure tubing and pipe products include tubing utilized in heat exchanger, boiler, and piping applications. It supplies these products to the refining, petrochemical, chemical, pulp and paper, pharmaceutical, gas transmission, and electric power industries. The company’s specialty tubing products consist of tubular goods made of carbon and stainless steel, copper, brass, aluminum, and surgical steel. It provides these products for various end use applications, including instruments for the petrochemical industry, hydraulic cylinders, automotive components, appliances, oil and gas applications, heating and ventilation, and farm equipment. In addition, the company provides carbon steel, stainless steel, alloy steel tube, nickel alloy, nonferrous and specialty alloy tube, and pipe products. It also offers an array of value-added services, and product development and engineering assistance. Webco sells its products to industrial customers, including manufacturers of heat exchangers, HVAC equipment, appliances, automotive components, power generation equipment, waste heat recovery systems, industrial and commercial boilers, and other durable goods. The company was founded in 1969 by F. William Weber and is headquartered in Sand Springs, Oklahoma.

For the fiscal year ended 31 July 2006, Webco Industries, Inc.'s revenues increased 4% to $303.4M. Net income decreased 69% to $5.7M. Revenues reflect increased demand for the Company's products. Net income was offset by lower gross margins due to higher raw material costs & increased competition within the tubing industry, higher interest expense and lower unrealized gain on interest contract.