SAN FRANCISCO (Thomson Financial) - Tenaris SA late Tuesday reported
first-quarter net earnings of $500 million, or 80 cents per American depositary
share, down 2% from $509.4 million, or 81 cents per ADS, in the year-ago period.
The mean estimate of three analysts polled by Thomson Reuters was for a
profit of 77 cents per ADS.
Revenue in the quarter ended March 31 rose 8% to $2.626 billion versus
$2.425 billion a year ago.
U.S.-listed shares of the Luxembourg-based maker of steel pipes for the oil
and gas industry closed at $55.28.
Gabriel Madway
gm
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