Jason Sandefur

Cleveland-based Park-Ohio Holdings Corp. reported sales of its manufactured products, including fasteners, jumped 40% to $220.1 million, while gross profit grew to $18.9 million compared with a segment loss of $13.7 million during 2003.
Overall sales rose 30% to $808.7 million during 2004, while net income grew to $14.2 million compared with an $11.8 million loss during 2003. CEO Edward Crawford said margins had suffered from rising steel and natural gas costs.
In the fourth quarter of 2004 manufactured product sales gained 47% to $60.8 million, and gross profit advanced to $5.2 million compared with an $18 million loss during the fourth quarter of 2003.
Overall Q4 sales improved 32% to $214.6 million. Park-Ohio reported a $2.3 million loss in Q4 compared with a loss of $17 million during the fourth quarter of 2003. �2005 FastenerNews.com