4/27/2012 4:35:00 PM
NEWS BRIEFS
Fastener Material Demand Sees “Significant” Improvement
Carpenter Technology reported net sales for the third quarter of fiscal 2012 climbed 16% to $539.9 million, while operating income soared 58% to $55.7 million. Fiscal Q3 net income increased 15% to to $33 million.
Aerospace market sales gained 21% to $240.5 million, driven by increased demand for materials used in fastener, engine and structural components.
“Demand for titanium fastener material is now exceeding prior peak levels, and nickel and stainless fastener demand has shown significant growth over the prior year,” the company stated.
Industrial market sales declined 3% to $128.7 million, while Energy market sales increased 28% to $68.6 million.
Transportation market sales grew 6% to $38.2 million.
International sales climbed 30% to $178.7 million, led by a 38% gain in sales to Europe and a 33% increase in Asia sales.
Based in Wyomissing, PA, Carpenter Technology manufactures and distributes heading wire/rod and bar products in specialty alloys, including stainless steels, titanium alloys, superalloys, and various engineered products. ©2012 GlobalFastenerNews.com
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