Cascade Corp. (CASC) Thursday said its profit for the first quarter declined from last year, due mainly to weak margins.
The Fairview, Oregon-based company reported a first-quarter net profit of $15.21 million or $1.34 per share, compared to $16.42 million or $1.46 per share last year. On average, four analysts polled by Thomson Reuters expected the company to earn $1.37 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 4 percent to $141.24 million from $136.18 million in the prior-year quarter. Four analysts had a consensus revenue estimate of $140.95 million for the quarter.
Gross margin for the quarter decreased to 31 percent from 33 percent in the year-ago quarter.
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