Material Sciences Corp. (MASC) Wednesday reported a decline in profit for the first quarter, due mainly to lower revenues and weak margins.
The Elk Grove Village, Illinois-based company's first-quarter net profit was $2.22 million or $0.21 per share, compared to $4.16 million or $0.33 per share last year.
Total revenues for the quarter dropped 3.3 percent to $34.83 million from $36.04 million in the prior-year quarter.
For the quarter, gross margin decreased to 24.6 percent from 26.4 percent in the year-ago quarter.
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