CarTech earnings lower than forecast amid deferrals
Apr 25, 2013 | 05:28 PM
| Daniel Fitzgerald
NEW YORK Specialty metals and stainless steel producer Carpenter Technology Corp. blames increased customer deferrals for lower-than-expected earnings in its fiscal third quarter.
The Wyomissing, Pa.-based company recorded net income of $32.9 million for the three months ended March 31, down slightly from $33 million in the corresponding quarter of 2012.
Third-quarter net sales totaled $581.4 million, up 7.7 percent from $539.9 million in the same comparison, a gain the company attributed to the companys acquisition of Latrobe Specialty Metals Inc. (amm.com, April 16, 2012).....
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