Dynacast reports loss in first quarter
May 29, 2013 | 03:40 PM
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.
Dynacasta producer of small metal die cast components using aluminum, magnesium and zinc alloysposted 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 companys 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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