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Reuters Company News
Brush Engineered 2nd-quarter loss widens
CLEVELAND, July 25 (Reuters) - Chemical
company Brush Engineered Materials Inc. (NYSE:BW - News) on Thursday posted a
second-quarter loss, reversing a profit a year earlier, as telecommunications
market weakness cut into demand for its beryllium products.
The Cleveland-based company reported a loss of $2.0 million, or 12 cents a share, compared with earnings of $1.3 million, or 8 cents a share, a year ago.
Brush, the producer of beryllium products used in the computer and electronics industries, said its sales declined 22 percent to $100.7 million from $128.5 million a year earlier.
The company said its third-quarter sales could dip by as much as 5 percent from the second-quarter due to slow demand from technology and telecommunications customers.
Shares were down about 2 percent, or 21 cents, to $9.64 in Thursday afternoon trade in New York Stock Exchange. Stock have shed about 72 percent from a year earlier.
|More Quotes and News:||Brush Engineered Materials Inc (NYSE:BW - News)|
|Related News Categories: chemicals, mining/metals|