4/30/2014 3:01:00 PM
NEWS BRIEFS
TriMas Fastener Segment Posts Strong Gains
TriMas reported sales for its Aerospace & Defense segment (consists of Monogram Aerospace Fasteners, Mac Fasteners, Martinic Engineering and NI Industries) increased 40.9% in the opening quarter of 2014 to $29.5 million. The company said the improvement was “primarily due to the results of the acquisitions of Mac Fasteners in October 2013 and Martinic Engineering in January 2013, improved demand for blind bolts and one-sided installation products resulting from new programs with airplane frame manufacturers and the recent introduction of new collar products.”
Aerospace & Defense segment profit grew 38% to $5.8 million, while the related margin percentage decreased slightly, as the increase in operating profit resulting from higher sales levels was impacted by a less favorable product sales mix within the product lines and lower profit margins associated with the recent acquisitions.
TriMas said it “continues to invest in this segment by developing and marketing highly-engineered products for aerospace applications and leveraging bolt-on acquisitions, as well as continuing to manage existing defense contracts.”
Overall TriMas revenue increased 8.9% to $367.7 million, while net income rose 41% to $18.6 million. ©2014 GlobalFastenerNews.com
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