
Investment Cast Products' sales improved by 8% YoY, reaching USD 582.1 million in the third quarter, versus sales of USD 537.7 million a year ago. Aerospace sales, which were approximately 11% higher than last year, continued to drive the segment's growth. Given that the segment had already benefited from the first major ramp in base aircraft production rates in the first and second fiscal quarters, sequential aerospace sales were essentially flat. As expected, production for the Boeing 787 held steady sequentially, with current schedules pointing to a moderate step up in activity beginning in the first quarter of fiscal 2013. Higher aftermarket activity drove a 6% increase in industrial gas turbine sales year over year, and, as previously stated, a more favorable dollar content mix is expected from OEM turbines shipped later in calendar year 2012. The segment continues to drop through this increased volume very effectively, with each individual operation focused on extracting value across the board. Segment operating income in the quarter grew by 13% over last year, climbing to USD 193.0 million this quarter or 33.2% of sales as compared to USD 170.8 million or 31.8% of sales, in the third quarter of fiscal 2011. Contractual material pass through pricing of approximately USD 19 million in the third quarter of fiscal 2012 was approximately USD 6 million higher than a year ago.










