Jason Industries reports loss on lower sales
Jason Industries reported second quarter net sales of $185.7 million, a 1 percent decline from $187.6 million in the same period last year.
A net loss of $2.4 million, or 13 cents per share, compared to a loss of $865,000, or 7 cents per share, in last year's second quarter.
Sales in the Finishing segment, which includes abrasives manufacturers Osborn and DRONCO, were $53.2 million, an increase of 13.9 percent. The results iclude net sales of $7.5 million from the acquisition of DRONCO, and a negative foreign currency translation impact of $0.3 million. Excluding the impact of foreign currency and acquisitions, organic sales decreased 1.5 percent with lower U.S. industrial demand.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
