Synalloy Sees Q4 Loss On Adjusted Basis - Quick Facts

(RTTNews) - Synalloy Corp. (SYNL) announced the company is now projecting a loss on an adjusted net earnings basis for the fourth quarter of current year. During October and November, the company's BristolFab unit experienced a pre-tax loss of $1.4 million. The company said the loss occurred as it increased the number of production workers from 70 in September to approximately 140 in the past two months in response to a surge in backlog, with resulting labor efficiencies falling well below profitable levels. Synalloy expects to see this continue into December.

The company said it continues to see reasons for optimism in all of its business units and remains confident in Synalloy's future.