10/28/2009
NEWS BRIEFS
Carpenter Tech Fastener Sales “Soft”
Carpenter Technologies reported aerospace market sales, including fasteners, fell 35% to $102.9 million, during the first quarter of fiscal 2010.
“Fastener demand, in particular, continues to be soft with excess inventory remaining at manufacturers and distributors and a longer lead time to builds,” the company stated.
Industrial market sales, including fasteners, declined 49% to $50.4 million during fiscal Q1, reflecting “continuing weak manufacturing demand and lower pricing.”
Consolidated company sales declined 38% to $233.7 million during Q1, while income fell to a net loss of $9.8 million. ©2009 GlobalFastenerNews.com
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