A.M. Castle logs net loss as sales rise
May 01, 2012 | 04:21 PM
| Frank Haflich
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A.M. Castle,
tubular,
energy,
service center,
quarterly earnings,
Frank Haflich
LOS ANGELES — Strong demand from the energy sector helped A.M. Castle & Co. post a 35.7-percent increase in metals business sales despite a net loss associated with a convertible note issue.
The Oak Brook, Ill.-based metals service center and plastics distributor reported a net loss of $4.3 million on sales of $362.9 million for the first three months of 2012 in contrast to net income of $2.7 million on sales of $272.8 million in the same year-ago period. The company blamed the deficit on an unrealized loss of $11.3....
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