A.M. Castle Posts $7.3M Loss in 3Q

Sales declined 3.2% for the distributor of specialty metal and plastic products.

A. M. Castle & Co., Franklin Park, IL, a global distributor of specialty metal and plastic products, reported third quarter sales of $245.5 million, down 3.2 percent from third quarter 2013. The company posted a loss of $7.3 million for the quarter, compared to net loss of $6.9 million the prior year.

Year-to-date, sales were $748.4 million, down 8.7 percent from the first nine months of 2013. Loss for the period was $95.6 million, down from net loss of $21.3 million.

"While we did not achieve the top-line growth that we had anticipated during the third quarter, we are encouraged that sales remained relatively constant for the first three quarters of 2014, and we saw sequential improvement in daily revenue and sales volumes during the third quarter," said Scott Dolan, CEO of A. M. Castle.

Metals segment sales were $210.7 million in the third quarter, a decline of 4.2 percent from the prior year same period. In the plastics segment, third quarter sales of $34.8 million were up 3.2 percent from the prior year same period.

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