Alcoa Sales Increase
April 07
00:00
2005
Alcoa Sales Increase
Jason Sandefur
Alcoa Inc. reported sales of engineered products, including fasteners, rose 8% to $1.24 billion during the first quarter of 2005, but segment operating income dipped 4.8% to $59 million.
Overall Q1 sales for Alcoa increased 13% to $6.3 billion, the highest in four years. Net income declined 26.7% to $260 million. Q1 capital expenditures totaled $347 million.
“Underlying business performance improved in the quarter as we captured the benefits of higher metal prices and a stronger economy in North America,” commented CEO Alain Belda. “We were able to regain traction on the cost initiative, overcoming cost inflation increases, to deliver savings to the bottom line.” Web: alcoa.com �2005 FastenerNews.com
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