WHX swings to loss in 2Q
WHX Corp., a White Plains maker of industrial products, swung to a net loss of $4.1 million during the second quarter as the company coped with slower sales in a weak global economy. A year earlier, the company had reported net income of $5.3 million.
The recession “had a material adverse effect on almost all of our businesses during the first half of 2009, driving sales down by over 25 percent from the first half of 2008,” Chief Executive Officer Glen Kassan said.
Net sales fell to $141.4 million during the second quarter from $197 million a year earlier.