10/23/2014 12:13:00 PM
NEWS BRIEFS
Fastener Orders Up at Precision Castparts
Precision Castparts reported Airframe Products sales, including fasteners, in the second quarter of fiscal 2015 grew 18% to $816 million.
“The fastener operations saw stronger shipment schedules and increased order rates across all major commercial aircraft platforms,” the company stated.
Airframe Products operating income increased 18% to $248 million, or 30.4% of sales, in the second quarter, despite the inclusion of recent lower-margin acquisitions.
Commercial aerospace sales, the chief driver of this segment, showed approximately 20% growth.
“On the large commercial aircraft front, Airframe Products will be working over the next several quarters to take the production rates higher to meet both current demand and market share gains,” stated CEO Mark Donegan.
Six-month Airframe Products revenue rose 17.7% to $1.62 billion, while operating income gained 18% to $490 million.
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