Friedman Industries, Inc

(AMEX:FRD)

	Sep 30, 2008	Jun 30, 2008	Mar 31, 2008	Dec 31, 2007
Operating revenue
Total Revenue	71,074	59,599	49,038	38,062
Operating Revenue	71,074	59,599	49,038	38,062
Adjustments To Revenue	—	—	—	—
Cost Of Sales	60,624	51,230	45,413	35,804
Cost Of Sales With Depreciation	60,928	51,534	45,704	36,092
Gross Operating Profit	10,450	8,368	3,625	2,258
Operating Expenses
Research And Development Expenses	—	—	—	—
Selling General And Administrative Expenses	1,867	1,981	1,301	1,024
Advertising Expenses	—	—	—	—
Operating Income Before Depreciation	8,583	6,387	2,324	1,234
Operating Income	—	—	—	—
Depreciation	304	304	291	289
Depreciation Unreconciled	—	—	—	—
Amortization	—	—	—	—
Amortization Of Intangibles	—	—	—	—
Operating Income After Depreciation	8,280	6,084	2,033	946
Non Operating Expenses
Interest Expense	—	23	42	—
Pre Tax Income	8,342	6,102	2,029	1,012
Income Taxes	2,898	2,126	697	351
Minority Interest	—	—	—	—
Income Before Income Taxes	8,342	6,102	2,029	1,012
Net Income From Continuing Operations	5,444	3,976	1,332	660
Net Income From Discontinued Operations	—	—	—	—
Net Income From Total Operations	5,444	3,976	1,332	660
Non Recurring Events
Extraordinary Income Losses	—	—	—	—
Income From Cummulated Effect Of Accounting Changes	—	—	—	—
Income From Tax Loss Carryforward	—	—	—	—
Other Gains And Losses	—	—	—	—
Total Net Income	5,444	3,976	1,332	660
Normalized Income	5,444	3,976	1,332	660
NetIncome Available For Common	5,444	3,976	1,332	660
Preferred Dividends	—	—	—	—
Excise Taxes	—	—	—	—

	Mar 31, 2008	Mar 31, 2007	Mar 31, 2006	Mar 31, 2005
Operating revenue
Total Revenue	178,785	199,727	181,900	188,022
Operating Revenue	178,785	199,727	181,900	188,022
Adjustments To Revenue	—	—	—	—
Cost Of Sales	166,141	184,071	165,859	171,352
Cost Of Sales With Depreciation	167,280	185,111	166,786	172,260
Gross Operating Profit	12,644	15,656	16,042	16,670
Operating Expenses
Research And Development Expenses	—	—	—	—
Selling General And Administrative Expenses	4,831	5,153	5,322	5,663
Advertising Expenses	—	—	—	—
Operating Income Before Depreciation	7,813	10,503	10,720	11,007
Operating Income	—	—	—	—
Depreciation	1,138	1,040	927	908
Depreciation Unreconciled	—	—	—	—
Amortization	—	—	—	—
Amortization Of Intangibles	—	—	—	—
Operating Income After Depreciation	6,674	9,463	9,793	10,099
Non Operating Expenses
Interest Expense	90	29	—	16
Pre Tax Income	6,786	10,879	10,077	10,229
Income Taxes	2,321	3,860	3,623	3,983
Minority Interest	—	—	—	—
Income Before Income Taxes	6,786	10,879	10,077	10,229
Net Income From Continuing Operations	4,465	7,018	6,454	6,246
Net Income From Discontinued Operations	—	—	—	—
Net Income From Total Operations	4,465	7,018	6,454	6,246
Non Recurring Events
Extraordinary Income Losses	—	—	—	—
Income From Cummulated Effect Of Accounting Changes	—	—	—	—
Income From Tax Loss Carryforward	—	—	—	—
Other Gains And Losses	—	—	—	—
Total Net Income	4,465	7,018	6,454	6,246
Normalized Income	4,465	7,018	6,454	6,246
NetIncome Available For Common	4,465	7,018	6,454	6,246
Preferred Dividends	—	—	—	—
Excise Taxes	—	—	—	—