Press
Releases
2008
April 30, 2008
MFRI
reports record sales of $329 million for year ended 1/31/08, up 12% compared to
prior year. Fourth quarter loss created small full year loss. 2008
begins with record backlog of $143 million, up 46% from the prior-year's level.
April 11, 2008
MFRI
to restate third quarter earnings to correct a $232,000 adjustment to the
provision for income taxes, with no effect on the company's sales, operating
expenses, or cash flow.
January
30,
2008
MFRI
announces that its Perma-Pipe Subsidiary in Cooperation with Jindal Saw, Ltd. of
Mumbai, India, has received an order to factory insulate and jacket 600 km (375)
mile) heavy crude oil pipeline in India.
2007
December 17,
2007
MFRI
reports record sales for 2007 third quarter and first nine months. Net
sales up 10% over prior-year's first nine months. Earnings were down for
the quarter and the year-to-date.
September 10,
2007
MFRI
reports record sales up 15.4% and earnings up 0.6% for the first half year
compared to last year. Record sales for the second quarter up 10.1% and
earnings down 37.6% compared to the prior-year's quarter. Record backlog
at July 31, 2007 was $131.3 million up 72.0% over July 31, 2006.
June 11, 2007
MFRI
reports first quarter records in sales, earnings and backlog. Net sales
were $57.0 million, a 21% increase; earnings per share were $0.16, a 433%
increase, and backlog was $112.3 million, a 53% increase over last year.
May
14, 2007
MFRI
announces $11 million in new orders for its Perma-Pipe Middle East subsidiary
for projects in the United Arab Emirates and Qatar.
April
16, 2007
MFRI
reports record sales and earnings for year ended 1/31/07, with net sales up 38%
and net income up 765% compared to prior year. 2007 begins with record backlog,
almost double the prior year's level.
February
7, 2007
MFRI
announces completion of its common
stock offering.
February
6, 2007
MFRI
common stock offering.
January
16, 2007
MFRI reports $26 million in new orders for its glass syntatic polyurethane (GSPU)
insulation system for sub-sea oil and gas flowlines and risers.
2006
December
6, 2006
MFRI reports record sales and earnings for 2006 Third Quarter and First Nine Months.
Net sales up 42% and net income up 219% over prior-year's
first nine months.
October
19, 2006
MFRI announces its Perma-Pipe middle east subsidiary has received an $8 million
order to manufacture a specialty pipeline for Qatar Gas.
September
11, 2006
MFRI Reports record sales and earnings for the second quarter and the first half
of 2006. Net sales were up 31.6% over
the second quarter of the prior year to $54 million. Net income per
outstanding share was up 267% to $0.44 compared to $0.12 for the prior year's
quarter.
July
26, 2006
MFRI announces the acquisition of a south african filter manufacturer.
June
14, 2006
MFRI Reports Record First Quarter Net Sales of
$46.9 million-an increase of 30% compared with prior year's quarter and record
backlog.
May
12, 2006
MFRI reports record sales for 2005. Earnings
reduced by the costs of global expansion activity and Sarbanes-Oxley requirements.
2006 Starting backlog position up in all business segments.
April
20, 2006
Due to inventory transaction processing errors,
MFRI reports interim quarters earnings restatements reducing previously reported
nine months earnings by 4 cents per share with no effect on the Company's sales,
cash flows, or business prospects.
March
23, 2006
MFRI reports $21 million in new orders to be manufactured
at its Perma-Pipe facility in New Iberia, Louisiana, for insulating subsea oil and
gas flowlines in the Gulf of Mexico.
March
21, 2006
MFRI announces start of preinsulated pipe manufacture
at its new PERMA-PIPE factory in the United Arab Emirates (U.A.E.)
