IPSCO announced first quarter sales of $746 million, a whopping 55% increase over the $483 million reported in 2004's first quarter. Net income rose from $31.3 million to $154.3 million in the same period.

The huge revenue gain reflected significantly higher prices in all product lines, partially offset by lower volumes of tubular products shipments, which dropped 9% in the first quarter.

In other news, Linda D'Angelo has been hired by IPSCO as director, business development, Canadian Tubular Products. She has more than 18 years of experience as a sales & marketing executive within the oil and gas sector. D'Angelo holds a board position with both the Canadian Heavy Oil Association and the Canadian Society for Unconventional Gas.

She is based at the company's sales office in Calgary, Alberta.