February 4, 2010
L.S. Starrett Reports Losses
By Brandon Butler
Athol-based precision tool manufacturer L.S. Starrett reported a $3.4 million loss in the second half of 2009.
That's in contrast to the $3.7 million profit the company reported for the second half of 2008.
Sales for the second half of the year dropped 25 percent compared to the last six months of 2008, from $121.1 million to $91.1 million.
For the final quarter of 2009, sales decreased about 6 percent compared to the same period last year. That decreased profits from $1.1 million at the end of 2008 to a loss of about $300,000 in the fourth quarter of '09.
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