Lower sales of ruthenium-based materials for the media market contributed to a drop in sales and profit at Brush Engineered Materials.

Net sales fell by 9.6 per cent to $226.3 million from $250.3 million while first quarter profit dropped by 80 per cent.

Softer demand for products containing the metal, which is used in the production of data storage discs for computer games, music and movies, have resulted in the lower figures, Brush Engineered Materials said.

Delays at its beryllium and beryllium composites segment and lower shipment of mobile phones to a specific customer had also contributed, according to Forbes.

For the first quarter ended March 28th, Brush Materials earned $4.6 million compared with the $23.1 million in the same quarter of 2007.

"We remain committed to profitably growing this company and creating value for our shareholders," said Dick Hipple, Chairman, President and Chief Executive Officer of the firm.

Source:

Brush Engineered 1Q profit tumbles on sales drop, charges, 24/04/08
http://www.forbes.com/feeds/ap/2008/04/24/ap4929762.html

Brush Engineered Materials Inc. Reports First Quarter Results 24/04/08
http://ir.shareholder.com/bw/ReleaseDetail.cfm?ReleaseID=306440