A. M. Castle & Co., Franklin Park, IL, a global distributor of specialty metal and plastic products, reported second quarter sales of $195.1 million, down 50.9% from second quarter 2008. The company posted a loss of $5.5 million for the quarter, compared to profit of $11.3 million the prior year.
Year-to-date, sales were $447.3 million, down 43.4% from the first half of 2009. Loss for the period was $5.0 million, down from profit of $25.1 million.
"We continue to look for indications of economic recovery. We have seen a few positive signs in some of the macroeconomic trends. We recognize that we still have a long road ahead of us," said Michael Goldberg, CEO and president. "At this point, our customers overall expect destocking to abate in the second half of 2009 compared to the …
