Alcoa Fastener Sales & Profit Grow
Alcoa Fastener Sales & Profit Grow
Jason Sandefur
Alcoa Inc. reported segment profit at its Engineered Solutions segment, including Alcoa Fastening Systems, rose 64% to a record $100 million during the second quarter of 2006, boosted by strong demand in the aerospace, commercial vehicle, and industrial markets. Segment revenue gained 9.6% to $1.4 billion during the quarter.
First-half revenue for Engineered Solutions grew 10% to $2.76 billion, while profit gained 50% to $183 million.
Overall results for Alcoa included a Q2 net income rise of 60% to a record$744 million on revenue of $7.96 billion a 19% jump. First-half net income of $1.35 billion was higher than annual results for any year except 2000. Q2 capital expenditures were $729 million, bringing investments for the first six months of 2006 to a total of $1.32 billion. Web: alcoa.com �2006 FastenerNews.com
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