Castle posts $3M loss despite higher sales
Jul 31, 2012 | 04:09 PM
| Corinna Petry
Tags
A.M. Castle,
Scott Stephens,
Michael Goldberg,
earnings,
corinna petry
CHICAGO — Metals distributor A.M. Castle & Co. posted a net loss of nearly $3 million for the second quarter, in contrast to net income of $3.7 million in the same period last year, despite a 16.6-percent increase in sales to $329.4 million.
The Oak Brook, Ill.-based company attributed the loss to adjustments related to financial instruments, including commodity hedging, and the costs associated with the departure of its chief executive officer. ....
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