Jason Sandefur

Precision Castparts Corp. reported strong fastener sales growth during fiscal 2008, with revenue jumping 25% to $1.52 billion. Operating income soared 47% to $384.2 million.
During the fourth quarter of 2008, fastener sales rose 20% to $402.4 million, while operating income grew 39% to $108.1 million. Fastener Products’ aerospace OEM and aftermarket sales grew approximately 39%, primarily driven by higher volumes on production and development platforms and continued market share gains.
“Our base aerospace business rests on a firm foundation,” noted PCC CEO Mark Donegan, “and we look forward to the growth that will be driven by such programs as the Airbus A380, the Boeing 787, the F-35 fighter, and the KC-X tanker.”
Overall sales during fiscal 2008 improved 28.8% to $6.85 billion, while net income increased 58.4% to $965.9 million. Web: precast.com �2008 FastenerNews.com