3/26/2009
NEWS BRIEFS
Paulin Sales Rise Despite Automotive Downturn

H. Paulin & Co. reported sales rose 2% to CAD 138.2 million during 2008, though the Canadian fastener manufacturer tallied a yearly net loss of CAD 729,000 compared with a CAD 1.8 million profit for 2007. Paulin recorded charges of $3.1 million in the fourth quarter “due to the significant downturn in the automotive sector.”

Fourth quarter sales slipped 3% to CAD 29.42 million, while Q4 income declined to a loss of CAD 2.6 million, compared to a CAD 535,000 loss during the final quarter of 2007.

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