PCC Fastener Sales Jump

Jason Sandefur

Driven by “rapid accelerating aerospace sales,” Precision Castparts Corp. fastener sales jumped 22% to $244.9 million during the second quarter of fiscal 2007. Operating income from fastener products soared 59% to $51.3 million. The aerospace boost “more than overcame continued weakness in the automotive market,” PCC noted. Improved operating margin performance resulted from leveraging increased production volumes, as well as cost reductions.
Fastener sales during the first six months of fiscal 2007 rose 20.65 to $486.4 million, while operating income improved 58% to $100.1 million.
Consolidated revenue from continuing operations increased 52% to $1.32 billion during Q2, while operating income grew 80% to $232.5 million. Total net income nearly doubled to $154.8 million.
Sales during the first half of fiscal 2004 increased 41% to $2.43 billion, with net income gaining 72% to $270 million. Web: precast.com �2006 FastenerNews.com