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(AMM) Castle narrows 4th-qtr. loss, sinks deeper in red for year

March 10, 2010 - 18:03 GMT Location: CHICAGO

KEYWORDS: A.M. Castle , specialty metals , plastics

A.M. Castle & Co., a global distributor of specialty metal and plastic products, posted losses for both the fourth quarter and full year last year, although the results were mixed.

The company's fourth-quarter 2009 net loss of $15.5 million narrowed from a $53.6-million net loss in the same quarter a year earlier, on sales that fell 43.6 percent to $181.3 million from $321.5 million.

However, Franklin Park, Ill.-based A.M. Castle's full-year net loss of $26.9 million widened from a net loss of $17.1 million in 2008, on sales that fell 45.9 percent to $812.6 million from $1.5 billion.

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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