5/16/2011 9:24:00 PM
HEADLINES
TRIMAS CORP.
TriMas Corp. reported sales for its Aerospace and Defense segment, including Monogram Aerospace Fasteners, increased 8.3% to $18.5 million during the first quarter of 2011, due primarily to improved demand from aerospace distribution customers.
Segment operating profit declined 3% to $3.72 million, attributable to a less profitable product sales mix between years, largely offset by increased gross profit and lower selling, general and administrative expenses.
“Given the long-term prospects for (our) aerospace business, (we) continue to invest in this high-margin segment by developing and marketing highly-engineered products for aerospace applications, as well as expanding… offerings to military and defense customers.”
TriMas Corp.’s Aerospace & Defense segment reported a 14.3% jump in sales to $20.46 million in the fourth quarter of 2010, boosted by “improved demand from aerospace distribution customers and increased sales in the defense business.”
Segment operating profit rose by 50% to $5.07 million during the quarter, while adjusted EBITDA climbed 46.5% to $5.64 million.
However, full-year Aerospace & Defense sales fell 0.6% to $73.93 million “as aerospace distribution customers’ increased purchases during the back half of 2010 were more than offset by lower levels of demand during the first half of 2010,” the company stated.
Segment operating profit declined 17% to $18.09 million, with 2010 EBITDA falling 15% to $20.42 million.
Corporate Office: 39400 Woodward Avenue, Suite 130, Bloomfield Hills, MI 48304. Tel: 248 631-5506
Web: trimascorp.com
CEO: David Wathen
Employees: 3,900
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