Chicago Rivet Sales & Profit Drop
May 09
00:00
2008
Chicago Rivet Sales & Profit Drop
Jason Sandefur
Chicago Rivet & Machine Co. saw revenue decline during the first quarter of 2008, with sales dropping 15% to $8.4 million. Income before taxes dropped to 95% to $43,663 during Q1, while net slipped 91% to $27,663.
In its 2007 annual report Chicago Rivet warned that it was bracing for the economic downturn of 2008.
“The outlook for 2008 is more challenging than a year ago,” Chicago Rivet stated. “With the possibility of a recession that would likely affect all the markets we serve, we expect customers will continue to demand higher quality and lower prices.” Web: chicagorivet.com �2008 FastenerNews.com
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