Federal Screw Works
said its second-quarter loss narrowed in spite of a sales decline.
The St. Clair Shores, Mich., maker of locknuts, bolts, piston pins, studs, bushings, shafts and other machined, cold formed, hardened and ground metal parts said it lost $590,000, or 43 cents a share, for the quarter ended Dec. 31, compared with a year-ago loss of $1.4 million, or 98 cents a share. Net sales fell to $20 million from $20.5 million a year earlier.
On Tuesday, shares of Federal Screw Works fell 40 cents to $15.60.