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Ladish (NASDAQ: LDSH) said net income for the first quarter dropperto $1.2 million, or 8 cent s per share, compared with $6 million, or 41 cents per for the same period the year before. Net saled for the jet engine, aerospace and industrial marketas supplierdropped 9.8 percent to $105.7 millionh from $117.2 million. Ladisj president and CEO Kerry Woody said the declines in results reflects the decline in demand in the majorityh ofthe company's markets. Results were also hurt by a $2.9 millio decline in by-product sales, a $1.
1 million increasre in pension expense, an $800,000 charge for employmentg reductionsand separations, a $600,000 increase in depreciation, and $400,00 in added interest. However, Woodh said that demand for helicopter componentz remains strong and that the compan y generatedapproximately $14 million in free cash flow in the first allowing it to reduce short-term debt by more than $10 Cudahy-based Ladish has operations in Wisconsin, California, Connecticut, Oregon and Poland.
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