ST. CLAIR SHORES, Mich., April 18 /PRNewswire-FirstCall/ -- Federal
Screw Works (Pink Sheets: FSCR) reports net sales for the third quarter and
nine months ended March 31, 2008, of $16,558,000 and $48,524,000,
respectively, compared to net sales of $20,212,000 and $52,747,000 for the
third quarter and nine months ended March 31 of the prior year. The Company
incurred a net loss of $(837,000) or $(.60) per share, for the quarter,
compared to net income of $152,000, or $.11 per share, in the same quarter
last year. For the nine months ended March 31, 2008, the net loss was
$(2,143,000), or $(1.55) per share, compared to a net loss of $(2,999,000),
or $(2.17) per share, in the same period of the prior year.
At its meeting today, the Board of Directors declared a regular
quarterly cash dividend of $.10 per share, payable July 3, 2008, to
shareholders of record June 3, 2008. It elected William G. Harness, Vice
President-Corporate Development, and Aaron J. ZurSchmiede, Vice
President-Big Rapids Division. Mr. ZurSchmiede was also elected to the
Board of Directors.
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