Park-Ohio Sales Strong
Park-Ohio Sales Strong
Jason Sandefur
Park-Ohio Holdings Corp. reported sales at its Integrated Logistics Solutions segment, including fasteners, rose 23% to $137.8 million during the third quarter of 2005, despite “substantially increased energy costs.” Segment income grew 32% to $8.2 million during the quarter.
Nine-month ILS sales increased 15% to $394 million, while income improved 4.1% to $24.7 million.
Overall Park-Ohio sales gained 17% to $234.2 million in Q3, and net income jumped 30% to $5.2 million. CEO Edward Crawford said the bankruptcy of auto supplier giant Delphi Corp. during the quarter cut into earnings. Delphi continues to be an active customer with the company, Crawford declared. Nine-month sales grew 16.5% to $691.9 million, while income increased 11% to $21.1 million. Web: pkoh.com �2005 FastenerNews.com
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