Federal Screw Sales Fall
April 25
00:00
2005
Federal Screw Sales Fall
Jason Sandefur
Federal Screw Works reported sales for the third quarter of fiscal 2005 dropped 2.5% to $23.76 million, while earnings declined to a loss of $2.53 million.
For the first nine months of fiscal 2005, sales slipped 3.6% to $64.2 million. Federal Screw reported a nine-month loss of $4.9 million, including a $1.78 million charge related to the closing of its facility in Chelsea, MI. The company said it would incur an additional $840,000 charge in the fourth quarter related to the closing. Web: federalscrew.com �2005 FastenerNews.com
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