7/12/2011
NEWS BRIEFS
Alcoa’s Fastener Segment Reports Record Results
Alcoa reported revenue at its Engineered Products and Solutions segment, including Alcoa Fastening Systems, rose 22% to $1.37 billion during the second quarter of 2011. That figure included a 10% rise in sales from the opening quarter.
Second-quarter ATOI climbed 15% to $149 million, driven by increased volume and productivity improvements. Adjusted EBITDA margin came in at a record 19%, up 60 basis points from first quarter 2011 and up 180 basis points from second quarter 2010.
“EPS continues to deliver record results compared to previous years, supported by a strong portfolio of innovative products and productivity improvements,” the company stated.
Overall revenue increased 27% to $6.6 billion, producing record profitability in mid- and down-stream businesses. Q2 income from continuing operations jumped 138% to $326 million, while net income more than doubled to $136 million. ©2011 GlobalFastenerNews.com
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Related Links:
• Alcoa
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