CarTech earnings lower than forecast amid deferrals

Apr 25, 2013 | 05:28 PM | Daniel Fitzgerald

Tags  Carpenter Technology, Cartech, earnings, aerospace sales, Latrobe Specialty Metals, William Wulfsohn, 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 company’s acquisition of Latrobe Specialty Metals Inc. (, April 16, 2012).....

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