Service Centers
February 28, 2015
AM Castle Losses Mount in Q4 2014
Written by Sandy Williams
AM Castle, a global distributor of specialty metal and plastic products, reported a consolidated net loss of $39 million for Q4 and a loss of $134.7 million for the full year 2014. Results for Q4 were negatively impacted by $8.2 million of provisions for inventory reserves due to restructuring consolidation and $2.9 million of other expense related to foreign currency transaction losses.
Net sales in the metals segment totaled $197.8 million, down 6.1 percent sequentially and 1.3 percent lower than fourth quarter 2013. Net metals sales for the full year 2014 totaled $841.7 million compared to $918.3 million for 2013. Sales were consistent with historical seasonal declines for AM Castle.
