June 2007 -- Olin Corp., a basic materials company that manufactures copper alloys, ammunition, chlorine and caustic soda, reported sales for the first quarter of 2007 that totaled $765.7 million compared with $725.1 million in the first quarter of 2006. Net income in the first quarter of 2007 was $23.1 million, or 31 cents per diluted share, compared to $33.7 million, or 47 cents per diluted share, in the first quarter of 2006.
First quarter 2007 sales for the company's Winchester business segment -- Winchester sporting ammunition, canister powder and reloading components -- were $100.2 million, compared with $90.0 million in the first quarter of 2006. The combination of the higher selling price and higher volumes were responsible for the increase. The Winchester income in the first quarter was $8.1 million compared with $3.9 million in the first quarter of 2006. Those results represent the best first quarter ever for the business unit, says Joseph D. Rupp, chairman, president and CEO. "Earnings of our Chlor Alkali and Metals businesses declined as both faced difficult operating environments during the first two months."
