Our strong first quarter results demonstrate that we are continuing to execute well against our strategic plan,” said William A Wulfsohn, Carpenter president and CEO. “While there are some areas, particularly in lower value products, where customer demand has softened recently, our overall business continues to be well positioned in attractive end markets with strong demand for our ultra-premium and premium products. This is evident in our strong top line growth, and continuing positive spread between our revenue and volume growth rates.
“We remain on track to achieve the financial targets we set for our full fiscal year and expect strong 2nd half shipment levels. Strong customer demand for the ultra-premium and premium parts of our product line, combined with our large backlog, is consuming our full available premium capacity.”