Carpenter Technology Corp. Q4 Income Falls 39%

(RTTNews) - Carpenter Technology Corp. (CRS) released a profit for fourth quarter that fell from last year.

The company said its bottom line dropped to $16.3 million, or $0.35 per share. This was down from $26.6 million, or $0.52 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.34 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 18.0% to $457.7 million. This was down from $558.0 million last year.

Carpenter Technology Corp. earnings at a glance:

-Earnings (Q4): $16.3 Mln. vs. $26.6 Mln. last year. -Earnings Decline (Y-o-Y): -38.7% -EPS (Q4): $0.35 vs. $0.52 last year. -EPS Decline (Y-o-Y): -32.7% -Analysts Estimate: $0.34 -Revenue (Q4): $457.7 Mln vs. $558.0 Mln last year. -Revenue Change (Y-o-Y): -18.0%