Through September, 2005 sales totaled a record $2.1 billion, an increase of 27% over the first nine months of 2004. Net income was $414 million for the first nine months of 2005. This compares to net income of $242 million in 2004.
IPSCO expects its North American energy tubular goods shipments in the fourth quarter to meet or exceed the record levels reached in the third quarter. In addition, large diameter pipe production has increased and will continue through this year and well into 2006. Fourth quarter large diameter shipments and recognized revenues are anticipated to exceed levels achieved in the third quarter.