Park-Ohio Sales Slip

Jason Sandefur

Park-Ohio Holdings Corp. announced net sales for 2003 slipped 1.6% to $624.3 million. Net income for the Cleveland-based OEM supplier rose 11.8% to $7.6 million.

Net sales during the fourth quarter of 2003 improved 4.1% to $162.7 million, while Q4 net income gained 4.3% to $2.4 million.
CEO Edward Crawford said Park-Ohio�s efforts over the past year to reduce debt should pay off in the coming months.
�In 2004, we expect to generate 8-10% sales growth and an EPS of $1.00 to $1.10.� �2004 FastenerNews.com