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Fansteel Inc. said it lost $840,000, or 10 cents per share, in the third quarter, due to a charge of $1.8 million, or 21 cents per share, for the writeoff of inventories. A year earlier, Fansteel posted earnings of $1.1 million, or 13 cents per share.
The North Chicago-based specialty-steel manufacturer said revenues rose 10 percent, to $34 million from $30.8 million.
For the nine months, Fansteel said its earnings fell 37 percent, to $2 million, or 24 cents per share, from $3.3 million, or 38 cents per share, a year earlier. Revenues rose 15 percent, to $103.6 million from $90.4 million.
