10/8/2009
NEWS BRIEFS
Alcoa Reports Q3 Fastener Segment Sales
Alcoa’s Engineered Solutions segment, including Alcoa Fastening Systems, reported sales declined 28% to $1.13 billion during the third quarter of 2009.
“(Engineered Products) ATOI for the quarter of $75 million was 15% below the sequential quarter results driven by continued aerospace destocking, industrial gas turbine market declines, and normal seasonal impacts,” the company stated. “This was partially mitigated by improved demand in commercial transportation and strong results from spend reduction efforts.”
Nine-month Engineered Solutions revenue dropped 25% to $3.59 billion, with operating income slipping 43% to $258 million.
Overall Q3 sales rose to $4.6 billion, a 9% sequential quarter increase, but down 34% from the third quarter of 2008. Net income during the third quarter declined 71% to $77 million. Capital expenditures in the quarter were $370 million. ©2009 GlobalFastenerNews.com
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