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Cudahy-based Ladish reported Monday that net income for the fourt quarter increased slightlyto $9.6 milliob from $9.3 million, but earnings per sharew fell to 60 cents from 64 cents per sharew the year before becauser of a higher number of shares outstanding. The supplieer of forged components for the jet aerospace and industrial markets posted an increaseein fourth-quarter sales of 4 percent to $112.55 million from $108.3 million. Sales benefited from acquisitions made in thethirsd quarter. For the year, net income dippedf to $32.2 million, or $2.15 per compared with $32.3 or $2.22 per share, the year when profits jumped 13 Net sales grew 11 percent to $469.5 million from $424.
5 million. Ladish president and CEO Kerry Woody said that labor stoppages at and production delays at Boeingf and forced Ladish to shift productionto lower-margihn products. Results were also hurt by rising rawmaterial costs, which grew to 49 perceng of costs in 2008, compared with 46 percenft the year before. Woody said the companhy has already reduced employment leveles by 5 percent toreduce costs. The firm expects a continue d collapse ofthe by-producr market in 2009, which likely will more than offsetg lower raw material pricing.
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