‘Robust’ aerospace market bolsters PCC
May 17, 2012 | 04:54 PM
| Frank Haflich
Tags
aerospace,
industrial gas turbines,
precision castparts,
mark donegan,
PCC,
Frank Haflich
LOS ANGELES — Gains in its aerospace and industrial gas turbine units helped push Precision Castparts Corp.’s (PCC) fiscal fourth-quarter earnings up 24 percent.
The Portland, Ore.-based producer of aircraft, energy and industrial products posted net income of $336.1 million for the three months ended April 1, compared with $271 million in the year-ago quarter, on sales that were up 16.3 percent to $1.95 billion.
For the full year, net income was up 20.8 percent at $1.22 billion, while sales rose 16 percent to $7.21 billion. ....
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