Winchester Sales and Margins Shrink in Q1
Olin Corp.’s ammunition segment suffered from lackluster commercial demand in the first quarter, tallying a 5% drop in sales to $388.0 million from $409.4 million despite gains in military sales. Those lower-margin sales hit the bottom line badly, sending segment operating income down 68% to $22.8 million from $72.2 million. Higher raw material costs for propellant and metal were also a headwind. Depreciation and amortization expense was $9.5 million compared to $7.9 ... Log in to view full article.
