Northwest Pipe Co. shares tumbled on 11/12/09 after the maker of welded steel pipes said it has delayed the release of its third-quarter financial results, but that it expects to post a $1 million loss. The company said the financial report for the three months ended Sept. 30 has been delayed "pending the conclusion of an ongoing internal investigation of certain accounting matters, including certain revenue recognition practices." The investigation is being conducted by the board of directors' audit committee and independent professionals, the company said. Northwest Pipe said it plans to publish the results "as soon as practicable" after the investigation and any further accounting work that may be needed.

Shares of Northwest Pipe fell $4.01, or 12.8 percent, to $27.22 in afternoon trading.

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