Northwest Pipe (NWPX)

November 5, 2008

Northwest Pipe Company is a manufacturer of large-diameter, high-pressure steel pipeline systems for use in water infrastructure applications, primarily related to drinking water systems. The Company’s pipeline systems are also used for hydroelectric power systems, wastewater systems and other applications.

NWPX

I first read about this company on livingoffdividends.com - "Water pipes all over the US are breaking. Built after WWII, these pipes had a lifespan off about 50 years. As the nation replaces these pipes over the next several years, cast-iron pipe companies are set to make a killing. Check out NorthWest Pipe (NWPX) and the water ETF (PHO)"

Sound reasoning.

The company was recently in the news for beating Analyst estimates for 2008 Q3 earnings. A little research shows that it has beaten analyst estimates for 2008 Q1 and Q2 also.

Here are some numbers. NWPX reported 1st quarter 2008 earnings of USD .54 per share on 4/23/08.This beat the consensus of USD 0.53 by USD 0.007, 2nd quarter 2008 earnings of USD .90 per share on 7/23/08.This beat the consensus of USD 0.61 by USD 0.287 and 3rd quarter 2008 earnings of USD 1.09 per share on 10/22/08.This beat the consensus of USD 0.75 by USD 0.337

At this time, the estimates for 4th quarter are at USD .70 / share. My money says NWPX will beat the estimates one more time and with the news that "Poll Results Spur Infrastructure", I think this would certainly be a stock to watch in the weeks and months to come