A.M. Castle posts surprise second-quarter profit

By Reuters
Posted July 27, 2010 at 8:11 a.m.

Specialty metals and plastics company A.M. Castle & Co., based in Franklin Park, posted a surprise profit, helped by improved demand from end-markets. “We expect demand levels for the balance of the year to remain steady from second quarter levels,” Chief Executive Michael Goldberg said in a statement. “Longer term, we remain optimistic about our opportunities for growth in our key target markets, including aerospace, oil and gas and energy, and general industrial equipment.”

For the latest second quarter, the company posted a net income of $408,000, or 2 cents a share, compared with a loss of $5.5 million, or 24 cents a share, a year earlier.

 

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