Mine Safety Appliances 3Q Sales Down 3% - Modern Distribution Management

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Mine Safety Appliances 3Q Sales Down 3%

North American sales increased 1 percent.

Mine Safety Appliances Co. (NYSE: MSA), Pittsburgh, PA, reported sales for the third quarter were $278 million, a decrease of 3 percent compared to the same period a year ago. Profit increased 1.4 percent to $19.5 million.

On a geographic basis, third-quarter sales in the company’s North American segment increased 1 percent versus the same period of 2012. Sales in Europe decreased 1 percent year-over-year. Sales in MSA’s international segment decreased 10 percent.

“MSA’s consolidated third quarter results reflect the combined impact of product certification delays resulting from the federal government’s budget sequestration, a reduction in large order shipments and weaker than normal business conditions in mining markets around the world,” said William M. Lambert, president and CEO.

For the first nine months, sales for MSA were $861.2 million, a decrease of 1.6 percent compared to the same period a year ago. Profit decreased 11.7 percent to $62.8 million.

“As we head into the final quarter of the year, we remain focused on controlling SG&A and reducing manufacturing costs while continuing our investment in R&D," Lambert said.

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