4/29/2015 12:29:00 AM
NEWS BRIEFS
TriMas Fastener Segment Sales Rise
TriMas Corp. reported first-quarter revenue in its Aerospace segment – which consists of Allfast Fastening Systems, Monogram Aerospace Fasteners, Mac Fasteners, and Martinic Engineering – increased 68.2% to $45.7 million, primarily due to the results of Allfast, which was acquired for $360 million in October 2014.
Q1 Aerospace segment operating profit rose 66% to $8.1 million, partially offset by the sale of higher cost inventory in the legacy aerospace business and costs related to Allfast, including purchase accounting adjustments.
“With recent additions to the management team of this business, the company is focused on improving manufacturing efficiencies and throughput, leveraging the recent acquisitions, and developing and qualifying additional highly-engineered products for aerospace applications,” TriMas stated.
Overall TriMas revenue grew 0.3% to $366.5 million, while income declined 24% to $14 million, or $0.31 per diluted share.
Related Stories:
• Allfast’s Randall Buying Kenny Roger’s LA Mansion
• Record Sales & Income for Alcoa’s Fastener Segment
• KLX Expanding Energy Services Group
Related Links:
Share: