Posted July 28, 2011
Precision Castparts sales and earnings up
Driven by solid top-line performance in all three of the company's major end markets, Precision Castparts Corp. improved both sequential and year-over-year sales and earnings in the first quarter of fiscal 2012.
Year-over-year sales increased by 16 percent, reporting $1.68 billion of sales compared to $1.45 billion a year ago. Consolidated segment operating income in the first quarter showed a 19 percent year-over-year improvement, rising to $419.5 million, or 25.0 percent of sales, versus $351.9 million, or 24.3 percent of sales in the first quarter of fiscal 2011. Net income from continuing operations (attributable to PCC) totaled $285.6 million in the first quarter, compared to $236.1 million last year.
Sales for fastener products were $348.0 million, with segment operating income of $106.8 million, or 30.7 percent of sales, compared to sales of $328.9 million, with segment operating income of $104.2 million, or 31.7 percent of sales, in the same quarter a year ago.
