Amcast expects to report lower earnings for second quarter.DAYTON Dayton, city (1990 pop. 182,044), seat of Montgomery co., SW Ohio, on the Great Miami River where it is joined by the Stillwater River; inc. 1805. It is the trade center for a fertile farm area, but is best known for its involvement with industry, invention, and , Ohio--(BUSINESS WIRE)--Feb. 16, 1996--Amcast Industrial Corporation (NYSE NYSE See: New York Stock Exchange - AIZ AIZ Lake of the Ozarks, Missouri (Lee C. Fine Memorial Airport) AIZ Air Intercept Zone AIZ Anti Imperialistische Zelle(n) (German: Anti-Imperialistic Cell; now defunct terrorist group) ) announced today that it does not expect to meet last year's record second quarter net earnings due to softness in its principle markets. Last year the company earned $4.3 million (or 50 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. ) on sales of $81.8 million. Automotive production cutbacks, coupled with severe weather conditions, have impacted the company's financial performance. In addition, a customer delay of five months in the launch of a new car model has impacted results. While growth occurred in the company's aluminum wheel and suspension components businesses, it will not be sufficient to offset the impact of the declines elsewhere. Markets and sales in the company's flow control segment are expected to be flat to down slightly in the quarter. While the company expects to be below last year's record second quarter performance, it does expect to record first half performance comparable to last year. Amcast Industrial Corporation is a leading manufacturer of technology-intensive metal products. Its two business segments are brand name FLOW CONTROL PRODUCTS marketed through national distribution channels, and ENGINEERED COMPONENTS for original equipment manufacturers. The company serves four major sectors of the economy: construction, automotive, industrial, and aviation/defense. CONTACT: Amcast Industrial Corporation, Dayton Media Contact: Phyllis Phyllis is a character in Greek mythology. Daughter of Lycurgus, King of Thrace, she married Demophoon, son of Theseus, while he stopped in Thrace on his journey home from the Trojan war. Naylor Naylor is a suburb in central Hamilton in New Zealand. This is not really a suburb at all but a region defined by the statistics department. It is not in use around Hamilton. , 513/291-7011 Investor Contact: Michael Higgins, 513/291-7015 |
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