1/22/2015 1:28:00 AM
NEWS BRIEFS
Precision Castparts Corp. reported sales in its Airframe Products segment, including fasteners, grew 11% to $798 million, driven by 17% growth in commercial aerospace sales during the third quarter of fiscal 2015.
“Fastener operations continue to maintain a high level of activity to meet aerospace production schedules and to benefit from the rapid integration of the most recent acquisitions,” the company stated.
Segment operating income rose 12% to $241 million, and operating margins increased from 29.9% to 30.2%, driven by “solid leverage of increased throughput and the benefit from acquisitions.”
Nine-month Airframe Products segment sales improved 15.2% to $2.4 billion, with segment operating income rising 15.8% to $731 million.
Overall fiscal Q3 sales increased 5% to $2.46 billion, with consolidated operating income up 2% to $670 million and net income from continuing operations gaining 3% to $442 million.
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