Precision Castparts sees 2d-half aerospace pickup

May 10, 2010 | 01:26 PM | Frank Haflich

Precision Castparts Corp. (PCC) is looking for strong aerospace-related growth to kick in during the second half of its current fiscal year despite a 7.3-percent decline in net income for the fourth quarter of its prior fiscal year and some continuing "challenges" such as higher metal costs.

The Portland, Ore.-based producer of forgings, investment castings and fasteners posted net income of $241.2 million in the fiscal fourth quarter ended March 28, down 7.3 percent from $260.3 million in the corresponding period last year, on sales that fell nearly 10 percent to $1.4 billion from $1.6 billion.....

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