Friedman Industries, Inc. reported net income of $1.06 million, or $0.16 per diluted share, in the fourth quarter of fiscal 2010. The company reported a loss of $0.3 million, or $0.04 per diluted share, in the corresponding quarter in fiscal 2009.

Friedman Industries, Incorporated reported revenues of $23.3 million in the fourth quarter of fiscal 2010, up slightly from the $21.9 million in revenues reported in the fourth quarter of fiscal 2009.

Friedman Industries, Inc. also reported a profit in fiscal 2010. The company reported net income for the year of $0.6 million, or $0.10 per diluted share. In fiscal 2009, Friedman Industries, Inc. earned net income of $13.6 million, or $2.01 per diluted share.

Revenues for the full fiscal year fell sharply from fiscal 2009. Friedman Industries, Inc. reported revenues in fiscal 2010 of $65.1 million compared to $208.7 million in fiscal 2009.

Friedman Industries, Inc. declared a quarterly cash dividend of $0.04 per share. The dividend will be payable to shareholders on 7/23/2010, and will be paid on 8/20/2010.

Friedman Industries, Inc. is a manufacturer of steel pipe for use in industrial applications. The company also buys hot-rolled steel coils and turns out steel sheet and plate products.

For more information on the company, go to www.friedmanindustries.com