Operating income for the Engineered Solutions segment, excluding the impact of rationalization and related charges *, was $5 million in the third quarter of 2013 versus $6 million in the same period in 2012. Despite solid growth in our advanced consumer electronics product line, operating income was negatively impacted by continued weakness in advanced graphite material products serving industrial sectors and start-up costs as we add production capabilities to serve growing markets.Mr. Shular commented, “Our Engineered Solutions business had its second consecutive quarter of $70 million in sales. We expect the majority of the start-up expenditures to be behind us and therefore target double-digit operating income margins for the segment in the fourth quarter as production ramps up for new products.”
GrafTech Reports Third Quarter 2013 Results, Announces Initiatives To Improve Operating Efficiencies And Global Competitiveness
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.