7/25/2012 6:41:00 AM
NEWS BRIEFS
Allegheny Technologies Sales Flat, Income Down
Allegheny Technologies Inc. reported revenue edged up to $1.36 billion in the second quarter of 2012, while net income declined 11% to $58.7 million. The company said quarterly results were impacted by “slower than expected GDP growth in the U.S. and China and fiscal and economic uncertainties in Europe.”
“The recently concluded Farnborough Airshow affirmed the growth opportunities resulting from ATI’s diversified product offerings and vertically integrated manufacturing capabilities,” the company stated. “On display at the Airshow were examples of ATI’s titanium net shapes, including structural investment castings, machined extrusions, and our portfolio of fastener stock for the airframe market.”
Six-month revenue increased 0.5% to $2.71 billion, with net income declining 6% to $117 million.
ATI’s sales to the global markets of aerospace and defense, oil and gas/chemical process industry, electrical energy, and medical represented 67% of ATI sales for the first six months of 2012.
Sales to the aerospace and defense market were $851 million and represented 31% of ATI sales. ©2012 GlobalFastenerNews.com
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