Northwest Pipe Co. has received a letter of intent from PCL Civil Constructors, Inc. of Tempe, Ariz., for approximately $14 million of welded steel pipe for the Lake Pleasant Waterline, a project for the City of Phoenix.

Northwest Pipe will supply approximately 44,000 feet of 78-inch-diameter steel pipe. The company expects to manufacture the pipe at its Adelanto, Calif., division with delivery scheduled to begin in the first quarter of 2005. The project is subject to final award by the City of Phoenix.

"We are very pleased with this major order," said Brian Dunham, President and CEO. "This further demonstrates the improving trend in the water transmission market. Our backlog is continuing to build, and our water-transmission revenues should increase in the second half of 2004. At the same time, the Tubular Products Group is continuing to generate very strong results. Consequently, we expect our second-quarter earnings to significantly exceed our first-quarter performance. We now expect earnings in the second quarter of 2004 to be between $0.40 and $0.45 per share, barring any unforeseen developments."

Northwest Pipe Co. manufactures welded steel pipe in two business segments. Its Water Transmission Group is a leading supplier of large-diameter, high-pressure, steel pipe products used primarily for water transmission in the United States and Canada. Its Tubular Products Group manufactures smaller-diameter steel pipe for a wide range of construction, agricultural, energy, industrial and mechanical applications. The company is headquartered in Portland, Ore., and operates eleven manufacturing facilities in the United States and Mexico.