A.M. Castle dives $4.6M into red in first quarter as sales slip

Apr 27, 2010 | 01:54 PM | Corinna Petry

A.M. Castle & Co. fell into the red in the first quarter, posting a net loss of more than $4.6 million in contrast to net income of $480,000 in the same period last year on sales that declined 11.6 percent to $223 million from $252.2 million.

Metals segment sales totaled $199.7 million in the three months ended March 31, down 13.6 percent from $231.1 million a year earlier as the average volume of tons sold per day declined 10.9 percent. Sequentially, however, Castle's average volume of tons sold per day improved by 22 percent, reflecting the ongoing recovery in the industrial economy.....

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