Metal-and-well-manufacturing company DMC Global reported 22% year-over-year revenue growth for the third quarter of 2021. Revenue was at $67.2 million, up from $55.2 million a year ago.
Net income was down nearly 60% year-over-year, from $1 million to $403,000. Earnings per share were down 71%, from 7 cents to 2 cents.
According to the press release announcing the third quarter earnings results, higher sales “were partially offset by supply chain bottlenecks and travel restrictions that impacted certain international orders.”
The company also spent $2.3 million in the third quarter on legal expenses as it pursues patent infringement litigation against several other companies.
“The economy continues to strengthen, and demand in our primary end markets is improving,” DMC President and CEO Kevin Longe said in a statement. “DMC has a strong balance sheet, and our businesses are well positioned with the right people, products and infrastructure to address the growing demand.”
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