Precision Castparts impresses

Although sales have dropped, the company has managed to improve its operating margins.

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Quarterly earnings for Precision Castparts Corp. dropped, but the company is making up for it with improved margins as a result of increased productivity and recycling.

Portland’s Precision Castparts Corp. missed analysts’ expectations as second-quarter sales plunged 28 percent to $1.3 billion.

But Mark Donegan, the hard-driving manufacturing manager who runs the company, impressed stock analysts during a 7 a.m. Webcast with productivity gains that Precision has wrung from its factories during the recession. Donegan, Precision’s chairman and chief executive, said the company, which makes components for aerospace and other industries, has improved operating margins even as revenues decline.

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