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Article Excerpt
M2 PRESSWIRE-10 August 2009-Stockguru.com: Keystone Consolidated Industries Inc. is in the StockGuru Spotlight for August 10, 2009(C)1994-2009 M2 COMMUNICATIONS
RDATE:10082009
DALLAS, TEXAS : StockGuru announces that Keystone Consolidated Industries Inc. New (OTCBB: KYCN) is in the StockGuru Spotlight. Keystone Consolidated Industries, Inc. is headquartered in Dallas, Texas. The Company is a leading manufacturer of steel fabricated wire products, industrial wire, billets and wire rod. Keystone also manufactures wire mesh, coiled rebar and steel bar. The Company's products are used in the agricultural, industrial, cold drawn, construction, transportation, original equipment manufacturer and retail consumer markets.
On Friday, the company put out news announcing net income of $1.0 million, or $0.08 per diluted share, in the second quarter of 2009 as compared to $21.9 million, or $1.81 per diluted share, in the second quarter of 2008. The decrease in earnings was due primarily to lower shipment volumes resulting from the adverse impact of the current economic condition on Keystone's customers. Throughout most of the second quarter of 2009, customers continued to cancel or postpone certain projects due to an inability to secure financing in the current credit markets and customers continued to conserve cash...
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