"We continue to extract and deliver value from all of our operations," said Mark Donegan, chairman and chief executive officer of Precision Castparts Corp. "We are achieving strong earnings growth on stable commercial aircraft schedules, gaining share on new airframe and engine development programs, maintaining a steady drumbeat to meet or exceed our cost-reduction targets, and continuing to set an aggressive pace in integrating our new acquisitions. The course we set for ourselves over the past decade is now playing out as we expected and delivering strong benefits to our shareholders."As we expand our reach in key markets, we are leveraging both our legacy businesses and our acquisitions to achieve further profitable growth for the Company," Donegan said. "Our base operations continue to deliver strong incremental margins. In addition, the targeted acquisitions we have made in recent years are capturing improvements at an accelerated rate and are yielding solid results. Most notably, TIMET has already proven to be a major contributor to earnings by rapidly adopting the PCC tool kit throughout its operations, but we have a long runway of both top- and bottom-line opportunities out ahead of us.
Precision Castparts Corp. Reports First Quarter Fiscal 2014 Earnings
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