Precision Castparts Sales Up 8% in Fiscal 2Q
By MDM , 2014-10-27 09:54:17
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Diversified manufacturer Precision Castparts Corp. (NYSE: PCP), Portland, OR, reported sales for the fiscal second quarter ended Sept. 28 of $2.5 billion, up 8 percent year-over-year. Organic sales increased 4 percent. Profit increased 10.1 percent to $467 million.
"Going forward, our markets remain strong, and customer demand has given us a clear line of sight to sustained growth," said CEO Mark Donegan. "On the large commercial aircraft front, Airframe Products will be working over the next several quarters to take the production rates higher to meet both current demand and market share gains."
Investment cast products sales increased by 4 percent in the first quarter to $631 million. Forged products sales were $1.1 billion, up 3 percent year-over-year. Airframe products sales increased 18 percent to $816 million.
For the first six months, sales increased 7.8 percent to 5 billion from the same period in 2013. Profit increased 10.5 percent to $950 million.
