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Technology Stocks : Thiokol now Cordant Techologies (CDD)
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To: HairyWho? who wrote (57)4/21/1998 8:48:00 AM
From: Carmine Cammarosano   of 127
 
Investment Castings Contribution Up 90 Percent:

Investment castings contributed income, after minority interest and taxes, of $14.6 million compared to $7.7 million for the prior year's quarter, reflecting continued strength in both the commercial aircraft and industrial gas turbine markets. Howmet's sales increased $33.4 million or 11 percent for the quarter from the prior year, adjusted for the sale of Howmet's refurbishment business. Howmet's revenue growth and manufacturing improvements combined to improve operating margins to 13.6 percent for the quarter (13.3 percent after Thiokol goodwill amortization) compared to 11.5 percent in the prior year. Thiokol's
recent 13 percent ownership increase also contributed $2.8 million to the increase over the prior year.
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