A. M. Castle &Co., Franklin Park, IL, a distributor of specialty metals and plastic products, reported sales for second quarter ended June 30, 2008, were $397.1 million, an increase of 6.6% from second quarter 2007. Profit was $11.3 million, down 30.7% from the prior year.
Overall demand in our key strategic end-markets remained solid during the second quarter of 2008,”said Michael Goldberg, president and CEO of A. M. Castle. “In particular, we saw continued healthy demand from our heavy equipment and oil and gas end-markets, and when combined with increasing tons sold per day and higher prices for certain products, we experienced solid revenue growth compared to the prior year. However, significant material cost increases for carbon products pressured our margins resulting …
A.M. Castle Sales Up 6.6% in 2Q
A. M. Castle &Co., Franklin Park, IL, a distributor of specialty metals and plastic products, reported sales for second quarter ended June 30, 2008, were $397.1 million, an increase of 6.6% from second quarter 2007. Profit was $11.3 million, down 30.7% from the prior year.
Overall demand in our key strategic end-markets remained solid during the second quarter of 2008,”said Michael Goldberg, president and CEO of A. M. Castle. “In particular, we saw continued healthy demand from our heavy equipment and oil and gas end-markets, and when combined with increasing tons sold per day and higher prices for certain products, we experienced solid revenue growth compared to the prior year. However, significant material cost increases for carbon products pressured our margins resulting …
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