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We have mademajor changes at TFS to reduce costs and will continue to do so
We have mademajor changes at TFS to reduce costs and will continue to do so. We expect that sales to this market willnot improve for the rest of this year and may not improve in 2010. Sales to the automotive marketcomprise the largest market for TFS. Theresult is that sales of our Total Filtration Services (TFS) operation dropped byover 20% this quarter compared to last year`s second quarter, while operatingprofits dropped by a little more than $1 million. has clearly impacted salesof replacement filters for automotive production and assembly facilities. We expect that ouraviation fuel filtration sales for the rest of 2009 will exceed the second halfof last year`s sales by approximately 5% “The continued drop in automobile sales in the U.S.
“Sales to the aviation fuel market in this year`s second quarter were slightlyless than in last year`s second quarter, but operating margins improved to over16% from 14% last year driven primarily by cost reductions. We also incurred various costs, which should not recur, to adjust ourproduction facilities to meet the sales volumes anticipated under this program. After thisevaluation, we are hopeful that we will then begin to sell into additionalregions. We expect that our customer will evaluatethe success of this program later this summer or in the early fall. So far, the program has been successful with product reorders comingsooner than we had initially expected. “We were recently selected by a large retail store chain for a program to sellour high-end Purolator brand HVAC residential filters in one of their salesregions.
Sales growth and major improvementsin production efficiencies in our plants are driving the improved operatingresults for the second half of 2009. This is a significant improvement from the first half of 2009 when salesdropped by 4%, and CLC Air incurred a loss. For the rest of 2009, we expect CLC Air sales toincrease by approximately 5% compared to 2008, and operating margins to exceed6%. Sales for thequarter were higher than in last year`s second quarter, and operating margins inthe quarter have improved by nearly five percentage points compared to thesecond quarter of 2008. “Our CLC Air restructuring program has turned the corner with significantlyimproved results The company is now profitable and growing. The largest improvement in thissegment came in our CLC Air operation while filter sales for offshore oildrilling and air filter sales to the automobile companies were the biggestdisappointment for this quarter. For the quarter, sales in the segment declined by 14% from2008 and operating profit declined by 49%.
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