January 21, 2009

Hexcel Sales Down 8.8% in 4Q

Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Hexcel Corp., Stamford, CT, reported sales in the fourth quarter 2008 were down 8.8% to $289.5 million. Profit was $28.3 million, up from $13 million in the same period a year ago.

Hexcel reported that inventory corrections (including the downtime at Boeing Commercial Airplanes), as well as a decline in recreation, automotive and general industrial sub-markets offset growth in space, defense and wind energy markets.

For the 2008 fiscal year, sales grew 13.1%.

More details on Hexcel’s sales here.

Hexcel is an advanced structural materials company. It develops, …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Hexcel Sales Down 8.8% in 4Q Read More »

Avnet Sales Down in 2Q

Companies, Electrical, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Avnet, Inc., Phoenix, AZ, reported sales of $4.27 billion for second quarter fiscal 2009 ended Dec. 27, 2008, a decrease of 10.2% over second quarter fiscal 2008. Excluding the impact of changes in foreign currency exchange rates, sales were down 6.4% for the quarter. Organic sales were down 14.9%.

Profit was $112.3 million, down 21% from the prior year quarter.

"Our second fiscal quarter was unusually challenging as demand weakened through the quarter culminating with lower-than-expected revenue in the month of December, CEO Roy Vallee said. This slowdown was widespread as all three regions and both operating groups contributed to a double digit year-over-year organic revenue decline for the quarter.

“Based on these …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Avnet Sales Down in 2Q Read More »

Columbus McKinnon 3Q Sales Up 12.9%

Free, News, Pharmaceutical & Health Care, Subscriber Only, Top Distributor Sectors / MDM Staff

Columbus McKinnon Corp., Amherst, NY, designer, manufacturer and marketer of material handling products, reported sales of $165.1 million for the third quarter of fiscal 2009 ended Dec. 28, 2008, up 12.9% over the prior-year same period. Profit was down 61.8% to $3.8 million.

Reported quarterly results include the acquisition of Pfaff-silberblau that closed on Oct. 1, 2008. One-time accounting adjustments related to the acquisition, higher material costs, lower sales volume of the higher margin pre-Pfaff businesses, and restructuring charges affected fiscal 2009 third quarter income from operations.

Sales for the first nine months of fiscal 2009 were $470.9 million, up 8.9% compared with the first nine months of fiscal 2008 and up 2.7% excluding the Pfaff …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Columbus McKinnon 3Q Sales Up 12.9% Read More »

Housing Starts Down 33.3% in 2008

Building Materials/Construction, Economic Trends, Free, News, Research & Analytics, Subscriber Only, Top Distributor Sectors / MDM Staff

U.S. housing starts in December were down 15.5% from November, and 45% below December 2007, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

Privately-owned housing starts were at a seasonally adjusted annual rate of 550,000 in December.

Single-family housing starts in December were at a rate of 398,000; this is 13.5% below the November figure. The December rate for units in buildings with five units or more was 145,000.

An estimated 904,300 housing units were started in 2008. This is 33.3% below the 2007 figure of 1,355,000.

By region, the Northeast saw a 15.4% drop in housing starts in 2008, Midwest had a 35.7% decline, the South a 33.5% fall, and the West was down …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Housing Starts Down 33.3% in 2008 Read More »