Order delays suppress PCC earnings
Jan 24, 2014 | 05:59 PM
| Frank Haflich
LOS ANGELES Unexpected customer demands to postpone deliveries near the end of Precision Castparts Corp.s (PCCs) fiscal third quarter helped push the companys financial results below Wall Street forecasts.
Mark Donegan, chairman and chief executive officer of the Portland, Ore.-based metals producer and manufacturer, said in an earnings conference call that PCC was hit by "unprecedented late-quarter dynamics" in the three months ended Dec. 29 that were "certainly more severe than wed typically experienced or anything that we expected." He said PCC made the products "to customer demand" and they were "on the (shipping) dock." ....
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