First Quarter Second Quarter Third Quarter Fourth Quarter 2000 Net sales: Water transmission $ 31,498 $ 36,184 $ 42,311 $ 45,061 Tubular products 32,493 33,306 33,675 26,881 Total net sales $ 63,991 $ 69,490 $ 75,986 $ 71,942 Gross profit: Water transmission $ 5,753 $ 8,291 $ 8,942 $ 10,500 Tubular products 5,715 4,525 3,565 1,926 Total gross profit $ 11,468 $ 12,816 $ 12,507 $ 12,426 Net income $ 2,361 $ 3,065 $ 2,641 $ 2,624 Earnings per share: Basic $ 0.37 $ 0.47 $ 0.41 $ 0.40 Diluted $ 0.36 $ 0.46 $ 0.40 $ 0.40 1999 Net sales: Water transmission $ 35,706 $ 33,014 $ 36,086 $ 32,612 Tubular products 21,825 27,997 27,236 25,831 Total net sales $ 57,531 $ 61,011 $ 63,322 $ 58,443 Gross profit: Water transmission $ 8,149 $ 7,384 $ 7,980 $ 8,835 Tubular products 2,865 4,414 5,294 3,983 Total gross profit $ 11,014 $ 11,798 $ 13,274 $ 12,818 Net income $ 2,643 $ 3,095 $ 3,864 $ 3,683 Earnings per share: Basic $ 0.41 $ 0.48 $ 0.60 $ 0.57 Diluted $ 0.40 $ 0.47 $ 0.58 $ 0.56 16. Quarterly Data (Unaudited): Summarized quarterly financial data for 2000 and 1999 is as follows: Northwest Pipe Company | 26