PCC Fastener Income Soars
July 25
00:00
2006
PCC Fastener Income Soars
Fastener sales for Precision Castparts Corp. rose 19.2% to $241.5 million during the first quarter of fiscal 2007, while operating income from fasteners soared 57% to $48.8 million. “Sales growth in the quarter was driven by increased critical aerospace fastener volumes and a full quarter of sales from the Shur-Lok acquisition,” PCC stated.
PCC acquired aerospace fastener manufacturer Shur-Lok in January 2006 for an estimated $110 million.
PCC reported overall Q1 sales and earnings growth were “vigorous,” with revenue soaring 31.6% to $1.12 billion and net income from continuing operating rising 51.4% to $118 million. Web: precast.com �2006 FastenerNews.com
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