4/20/2011 12:40:00 PM
NEWS BRIEFS
TriMas Releases Strong Preliminary Results
TriMas Corp. said it expects first quarter net sales, including Monogram Aerospace Fasteners, to be between $268 million and $271 million — an increase of approximately 22% to 23% compared to the first quarter of 2010.
First quarter operating profit is forecasted to total $29 million to $31 million, or approximately 11% of net sales.
Bloomfield Hills, MI-based TriMas expects first quarter 2011 diluted earnings per share (EPS) from continuing operations to range between $0.32 and $0.35 per share, compared to $0.17 in the first quarter of 2010.
The company noted that these preliminary first quarter results are slightly ahead of management’s original expectations, marking a solid beginning to 2011.
TriMas anticipates year-over-year sales and earnings growth in 2011, although growth rates on a year-over-year basis for the remainder of 2011 are not expected to be as high as they were in the first quarter of 2011, given the strong performance experienced in the last three quarters of 2010.
Full results for the first quarter of 2011 will be released on April 28, 2011. ©2011 GlobalFastenerNews.com
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