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Article: St. Charles County Business Record News Digest: March 16, 2009
- Article from:
- St. Charles County Business Record
- Article date:
- March 16, 2009
CopyrightCopyright 2009 St. Charles County Business Record. Provided by ProQuest LLC. (Hide copyright information)
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LMI sees profit fall
St. Charles-based LMI Aerospace Inc. recorded a profit of
$585,000, or 5 cents per share, during the fourth quarter of 2008.
The St. Charles-based company posted a profit of $3.8 million, or 34
cents per share, during the fourth quarter of 2007.
Fourth quarter sales were $52.2 million, compared to $54.6
million a year ago.
The company said results for the fourth quarter were negatively
impacted by $2.8 million of "unusual pre-tax items," including a
$2.3 million non-cash goodwill impairment charge related to Tempco
Engineering; a $300,000 write-off of intangibles from the
discontinued TCA consulting businesses; and $200,000 of severance
pay. The impairment of goodwill ...