Timet boosts PCC but press woes persist
May 09, 2013 | 06:13 PM
| Frank Haflich
LOS ANGELES Precision Castparts Corp. (PCC) saw a 23.2-percent jump in net income in its fiscal fourth-quarter 2013 thanks to the contribution of its new Titanium Metals Corp. (Timet) unit, even as PCC continues to deal with problems at a key forging press.
The Portland, Ore.-based producer of investment castings, forgings and airframe products posted net income of $414.2 million in the three months ended March 31, up from income of $336.1 million logged in the same quarter a year prior. Net sales of $2.44 billion were up from net sales of $1.95 billion in fiscal fourth-quarter 2012.....
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