8/3/2010
NEWS BRIEFS
Stalling Aerospace Sales Hurt TriMas Fastener Revenue
L.A.-based Monogram Aerospace Fasteners
Lower sales of new aerospace products hurt revenue at TriMas Corp.’s Aerospace & Defense segment, including Monogram Aerospace Fasteners. Sales dropped 5.7% to $17.22 million during the second quarter of 2010, while segment operating profit declined 40% to $3.8 million.
TriMas said that the aerospace business experienced some stabilization of sales volumes and order backlog during the quarter. And while defense sales grew, the increased revenue associated with managing the facility closure and relocation was at lower margin levels.
First-half Aerospace & Defense segment revenue fell 15% to $34.3 million, with operating profit dipping 41% to $7.7 million.
Overall Q2 sales at TriMas grew 21% to $252.1 million, while operating profit more than doubled to $36.5 million.
Based in Bloomfield Hills, MI, TriMas has about 3,900 employees at 70 facilities in 9 countries. Web: trimascorp.com ©2010 GlobalFastenerNews.com
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