5/7/2010
NEWS BRIEFS
PCC Points to Good News for Aerospace Fasteners
Precision Castparts reported Fastener Products sales for fiscal 2010 dropped 12% to $1.4 billion, while segment operating income declined 4.3% to $439.3 million.
Those results included a 13% sales drop to $333.6 million during the final fiscal quarter, along with a 9% dip in segment operating income to $108.4 million.
“With aerospace destocking at an end, direct aerospace OEM orders are seeing a gradual recovery, with solid upside in the second half of fiscal 2011 in response to the ramp of 787 production and higher aircraft build rates,” the company stated.
Overall PCC sales in fiscal 2010 declined 19.3% to $5.5 billion. ©2010 GlobalFastenerNews.com
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