Castle Sees Continued Sales and Earnings Strength
16 9월 2004 - 7:47AM
PR Newswire (US)
Castle Sees Continued Sales and Earnings Strength FRANKLIN PARK,
Ill., Sept. 15 /PRNewswire-FirstCall/ -- In a presentation today
before the Roth/RedChip Resources Discovery Day Conference, G.
Thomas McKane, Chairman and CEO of A. M. Castle & Co.
(AMEX:CAS), stated, "The strength we saw in core markets during the
first half of the year continues into the second half. We expect
the impact of price increases on the second half should be
comparable to second quarter levels and, therefore, expect to close
2004 with a seasonally strong second half." He further stated,
"Management forecasts that during 2005, core market strength will
continue and that aerospace, oil and gas markets would show
significant recovery. While no new metals price increases are
anticipated for 2005, the carryover of price increases phased in
during 2004 add significantly to 2005 sales volume." During the
second quarter A. M. Castle & Co. reported earnings of 36 cents
per share and year-over-year sales growth of 41% of which
approximately one-half was due to higher material prices. Founded
in 1890, A. M. Castle & Co. provides highly engineered
materials and value-added services to a wide range of companies
within the producer durable equipment sector of the economy. Its
customer base includes many Fortune 500 companies as well as
thousands of medium and smaller-sized firms spread across a wide
spectrum of industries. Within its core metals business, it
specializes in the distribution of carbon, alloy and stainless
steels; nickel alloy, aluminum; titanium; copper and brass. Through
its subsidiary, Total Plastics, Inc., the Company also distributes
a broad range of value-added industrial plastics. Together, Castle
and its affiliated companies operate over 50 locations throughout
North America. Its common stock is traded on the American and
Chicago Stock Exchange under the ticker symbol "CAS". This release
may contain forward-looking statements relating to future financial
results. Actual results may differ materially as a result of
factors over which the Company has no control. These risk factors
and additional information are included in the Company's reports on
file with the Securities and Exchange Commission. DATASOURCE: A. M.
Castle & Co. CONTACT: Edward Culliton, VP, Finance & Chief
Financial Officer of A. M. Castle & Co., +1-847-349-2508, ;
Analysts, John McNamara, +1-212-445-8435, , or General Information,
George Zagoudis, +1-312-640-6663, , both of Financial Relations
Board
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