Glaston releases sales figures for 2011
Glaston Corp. announced consolidated net sales of $149.4 million for 2011, slightly less than the company's net sales the previous year.
The company expects that 2012 net sales will at least match the 2011 level and that the operating result will be positive, according to a Feb. 9 release.
“In 2011, Glaston’s operating environment and market situation remained challenging. At the beginning of the year there were signs of growth, but in the second half the problems of the world economy were reflected in our customers’ willingness to invest and led to the postponement of larger investment decisions," said President and CEO Arto Metsänen, in the release. "In 2011, Glaston’s market did not grow and our net sales fell slightly short of the previous year’s figure. Despite this, we still managed to improve our profitability significantly. All segments improved their result compared with the previous year."