HTI Q3 Sales Soar

Jason Sandefur

Head & Threads International reported revenues for the third quarter of 2004 jumped 36.8% to $41.8 million, while HTI revenue for the first nine months of 2004 gained 44% to $123.22 million.
Parent company Alleghany Corp. reported a net loss of $47 million during the third quarter of 2004, compared with net earnings of $74.9 million during the third quarter of 2003. Revenue slipped 4.5% to $338.6 million. Q3 results included net catastrophe losses of $97.8 million from the hurricanes in Florida.
For the first nine months of 2004, net earnings dipped 27% to $63.8 million, while revenue grew 59% to $1.01 billion. Results included net catastrophe losses were $135.9 million. Web: headsandthreads.com �2004 FastenerNews.com