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For the first six months of fiscal 2012, sales were $3.5 billion, up 17 percent over the prior year period. Profit increased 19 percent to $580.7 million.
Investment Cast Products sales grew 12 percent to $573.3 million in the second quarter of fiscal 2012. Year-over-year aerospace sales increased 18 percent, driven by accelerating commercial aircraft production rates and market share gains. Industrial gas turbine (IGT) sales improved 7 percent over the same quarter last year, primarily due to aftermarket activity.
Contractual material pass-through pricing in the second quarter was approximately $20 million, versus approximately $10 million a year ago, principally due to increases in nickel costs.
Forged Products improved second quarter sales by 20 percent, generating $801.4 million in the quarter. These results include the top-line contribution from the addition of KLAD for the full quarter and both Tru-Form and Rollmet for part of the quarter. Base aerospace sales, which closely parallel those of Investment Cast Products in most cases, grew by 18 percent year over year. In addition, general industrial sales were robust, showing a 5 percent improvement in the quarter compared to a year ago.
Contractual material pass-through pricing grew from approximately $40 million last year to approximately $55 million in the second quarter of fiscal 2012, and selling prices of metal at the segment’s three primary mills were approximately $40 million higher than a year ago.
Total sales for Fastener Products in the second quarter of fiscal 2012 were $414.9 million, an increase of 27 percent. The segment’s aerospace sales saw a year-over-year improvement of 9 percent, excluding the benefit of Primus International sales for almost two months of the quarter.
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| Title | Company | Location |
|---|---|---|
| Digital Strategy Manager | Border States Electric | Fargo North Dakota |
| Risk Manager | Border States Electric | Fargo ND |
| Purchasing Manager | PCA SKIN | Scottsdale, AZ |
| BUSINESS DEVELOPMENT MANAGER | Graybar Electric Company | Denver, CO |
| INDUSTRIAL OUTSIDE SALES REPRESENTATIVE | Graybar Electric Company | Phoenix, AZ |
| General Manager | Applied Industrial Technologies | Norfolk, VA |
| Rubber Specialist | Applied Industrial Technologies | Baltimore, MD |
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