Global Fastener News

TriMas Reports Jump in Aerospace Fastener Revenue

Jason Sandefur

TriMas Corp. reported Industrial Specialties sales during the second quarter of 2007 increased 19% to $56.01 million “due to continued strong market demand and product expansion in our aerospace fastener” business. Operating profit grew 28% to $12.6 million.
Industrial Specialties sales during the first six months of 2007 rose 19% to $108.85 million, with operating income gaining 36% to $24.9 million.
TriMas completed an initial public offering of common shares on May 17, 2007 and began trading on the NYSE under the ticker symbol TRS. TriMas received $126.5 million in net cash proceeds from the IPO, and used $104.9 million to retire $100 million face value of it senior subordinated notes, which included a $4.9 million call premium.
Overall Q2 sales grew 4% to a record $290.83 million, but net income dropped to a loss of $3.19 million. First half revenue improved 5% to $577.52 million. Web: trimascorp.com �2007 FastenerNews.com