Ladish Co., Inc. has reported 2004 net income of $3.8 million on sales of $208.7 million. During the fourth quarter of 2004 the Company had income of $0.09 per share in comparison to a $0.06 loss per share in the fourth quarter of 2003.
"Year 2004 represented the early stages of a turnaround for both the aerospace and industrial markets served by Ladish and we are pleased that Ladish was able to service customer demand and demonstrate a significant improvement in sales and earnings," said Kerry L. Woody, Ladish's president and CEO. "The results for the year reflect the steps Ladish took during the last several years to manage through the market cycle."
Looking forward to 2005, Woody remarked, "Based upon the contract backlog and the rate of new orders in 2004, we are optimistic that the recovery in the aerospace and industrial markets we experienced in 2004 will continue. Our new order volume in 2004 and year-end contract backlog both showed significant improvement over 2003.
“Also, the success we had in 2004 in reducing our cost structure and improving our responsiveness to our customers should enable us to leverage these gains as our sales grow in 2005.
“As we celebrate our 100th anniversary, we are mindful of the fact Ladish has sustained sound performance through many difficult cycles. Every employee, active and retired, takes great pride in this milestone." Ladish Co., Inc. is a leading producer of highly engineered, technically advanced components for the jet engine, aerospace and general industrial markets. It operates a forge shop in Cudahy, WI.