IPSCO Inc. announced a net loss of $3.4 million for the quarter, a significant improvement over the $15.5 million loss reported last quarter, but off considerably from the net income attributable to common shareholders of $5.7 million in the first quarter 2001.
Sales revenue at $271.1 million was up 17 percent over the first quarter of last year and 22 percent higher than the prior quarter. First quarter shipments of 749,500 tons increased by 28 percent and 24 percent respectively, over the same periods. Shipments of steel mill products were 369,000 tons, 63 percent higher than the first quarter of 2001. Further fabricated product shipments of 380,500 tons were seven percent higher than in the first quarter of 2001.
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