Dynacast reports loss in first quarter

May 29, 2013 | 03:40 PM |

Tags  Dynacast, die caster, zinc, aluminum, magnesium, zinc alloys, Simon Newman, automotive Adrian Murphy

NEW YORK — Dynacast International Inc. reported a first-quarter net loss despite strong sales growth in its North American segment.

Negative economic climates in southern Europe and a downturn in the auto market in Europe were responsible for the quarterly loss, according to Simon Newman, president and chief executive officer of the Charlotte, N.C.-based company.

Dynacast—a producer of small metal die cast components using aluminum, magnesium and zinc alloys—posted a net loss of $1.2 million for the three months ended March 31, down from a $2-million loss in the same year-ago period, despite net sales that rose 16.5 percent to $139.7 million, according to the company’s earnings results. The loss attributable to controlling shareholders was $1.3 million, down from a $2.2 million loss in the same....

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