PCC earnings soar on commercial aircraft

Oct 28, 2013 | 03:19 PM | Frank Haflich

Tags  Precision Castparts, PCC, Timet, earnings report, Mark Donegan, Frank Haflich

LOS ANGELES — Precision Castparts Corp.’s (PCC’s) earnings soared in its fiscal second quarter on strong commercial aircraft demand.

Chairman and chief executive Mark Donegan said the Portland, Ore.-based company was helped by "steady" recovery in power markets and the contribution of Exton, Pa.-based Titanium Metals Corp. (Timet), which it acquired last year.

PCC posted net income of $424 million for the three months ended Sept. 29, up 27.7 percent from $332 million a year earlier, on sales that climbed 22.6 percent to more than $2.36 billion.....

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