BOSTON (Thomson Financial) - A.M. Castle & Co. Tuesday said first-quarter net income fell to $13.8 million, or 62 cents a share, beating the mean estimate of analysts polled by Thomson Reuters of 54 cents a share.
In the same period a year ago, the company posted net income of $15.6 million, or 81 cents a share.
Revenue for the Franklin Park, Ill.-based distributor of specialty metal and plastic products rose 4.8% to $393.5 million from $375.4 million a year earlier. Analysts, on average, had estimated revenue of $382.1 million.
A.M. Castle said sales in its metal segment rose 4.5% to $362.3 million, and sales in its plastic segment rose 8.5% to $31.2 million in the quarter.
Shares closed Monday at $27.35. Casey Logan cl/pc COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
