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CARPENTER TECHNOLOGY CORP. Wyomissing, Pennsylvania; Specialty Metals Firm Rebounds With Focus On Efficiency.(THE NEW AMERICA)
Byline: ALAN R. ELLIOTT
Saving the world can be hard on the knees. So you could see the 67-year-old Superman -- aka Man of Steel -- joining other aging Americans in upgrading to titanium hips and knees.
Carpenter Technology has a piece of that action. The company supplies titanium and other specialty metal alloys to firms that cast and forge parts for everything from jet aircraft engines to artificial hips.
A broad swathe of the company's markets, led by an aging population and a surge in new aircraft orders, has improved over the past year.
Carpenter has reaped the rewards. Last week it reported earnings of $1.42 a share for the fiscal fourth quarter ended June 30, up 95% from the prior year. Revenue gained 22% to $362.4 million.
For the full year, profit more than tripled to $4.61 a share while sales vaulted 29% to $1.3 billion.
It was a heroic return for a company that lost money three years earlier and watched its share price skid to less than 10.
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