BRIEF: Boulder-based Dynamic Materials' sales, income lower in 3Q 

BRIEF: Boulder-based Dynamic Materials' sales, income lower in 3Q

Oct 30, 2012 (Menafn - Daily Camera - McClatchy-Tribune Information Services via COMTEX) --An order backlog in Dynamic Materials Corp.' explosion welding business and a slowing in North American drilling activity led to drop in quarterly revenue for the Boulder-based energy firm, according to an earnings report released Tuesday.

During the third quarter, Dynamic Materials BOOM reported a net income of 3.76 million, or 28 cents per share, on revenue of 50.15 million. Last year, the company had a net income of 4.27 million, or 32 cents per share, on revenue of 54.89 million.

"The inconsistent pace of the global economic recovery and shifting capital spending trends in our industrial end markets continued to result in uneven explosion welding bookings, as well as a sequential decrease in our order backlog," Dynamic Materials CEO Yvon Cariou said in a statement. "Fortunately, we have not seen any letup in quoting activity, and our roster of prospective explosion welding orders continues to include an extensive mix of large, global infrastructure projects.

"As happened during this year's first quarter when our explosion welding backlog climbed by 28 percent, we are optimistic that we will see a surge in orders as prospective projects transition into firm contracts."

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