Heads & Threads Posts Gain
Heads & Threads Posts Gain
Jason Sandefur
Alleghany Corp. reported net earnings from continuing operations rose to $8.9 million in the second quarter of 2002, up from $2.5 million in the same period last year. Second quarter revenue increased 22% to $131.4, but revenue for the first half dropped 72% to $282 million.
The Heads & Threads International fastener importing segment of Alleghany posted second quarter pre-tax earnings of $500,000, a turnaround from an $8.8 million loss in the second quarter of 2001. First half earnings totaled $1.1 million. Q2 revenue was down 6% to $29 million, reflecting a decline in demand in the US economy, Alleghany reported. Net fastener sales were $28.95 million for Q2, down 6%. First half sales dropped 12% to $56.89 million. �2002 FastenerNews.com
There are no comments at the moment, do you want to add one?
Write a comment