CLEVELAND, Ohio (Nov. 19)—Park-Ohio Holdings Corp. posted a net loss of $2.7 million for the third quarter ended Sept. 30 compared to net income of $4.8 million during the same period last year. Sales for the current quarter dropped 8.6 percent year over year to $156.2 million. For the first nine months of the year, Park-Ohio lost $3.9 million compared to net income of $1.1 million last year. Sales during the first three quarters slipped almost 16 percent to $489.8 million. "We continue to be affected by the economic downturn with no sign of recovery in the fourth quarter," said Edward F. Crawford, chairman and CEO of the rubber parts maker, in a written statement. "We remain focused on improving Park-Ohio's cost structure and the long-term profitability of the business."
Park-Ohio takes losses during third quarter, nine-month period
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