Heads & Threads Loss Turns to Profit
April 29
00:00
2002
Heads & Threads Loss Turns to Profit
John Wolz
Alleghany Corporation reported first quarter 2002 net earnings plummeted to $25.8 million from $455.4 million in the same period of 2001. Revenues from continuing operations dropped 83% to $150.7 million.
Heads & Threads International, the fastener importing division, recorded pre-tax earnings of $0.5 million in the 2002 first quarter, compared with a
pre-tax loss of $3.9 million in the 2001 first quarter, primarily reflecting operating cost control measures and reduced interest expense. Revenues in the 2002 first quarter were $27.9 million compared with $33.8 million in the first quarter of 2001, reflecting reduced demand in the U.S. economy. Web: headsandthreads.com �2002 FastenerNews.com
There are no comments at the moment, do you want to add one?
Write a comment