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Although Kenner believes that the recession has bottomed out, Cardoso said, "The huge scale of the recession makes us very cautious in predicting the speed and intensity of the economic recovery." At present, industrial orders have increased slightly. Cardoso expects that the auto industry will experience a certain degree of recovery.
Cardoso said that like many other companies, Kenner suffered losses in the global economic downturn and financial market collapse. In fiscal year 2009, which ended on June 30, Kenner’s sales revenue was close to $2 billion, with a loss of $119.7 million (an average of $1.64 per share). In contrast, in fiscal 2008, Kenner's sales revenue reached $2.6 billion and earnings were $167.7 million (an average of $2.15 per share).
Cardoso said that Kenner has benefited from the economic stimulus plan of the government (especially other governments). In China, the government’s stimulus package has been introduced for less than a month, which has led to an increase in tool spending in the country. In the United States, an estimated $100 million in investments to improve highways and other infrastructure is beneficial to Kenner's business.
Cardoso said it would also help the company to spend $125 million a year on fixed costs. The company also used some temporary measures to save costs, such as a one-week temporary holiday and unpaid leave for the company's 12,000 employees earlier this year.
Kenner plans to announce its sales for the first quarter of fiscal 2010 at the end of October. The company's stock closed at $23.93 per share on October 27, down 79 cents (3.2%).
Welding nut is a kind of nut suitable for welding outside the nut. It is generally made of weldable material and is relatively thick and suitable for welding. Welding is equivalent to turning two separated parts into a whole, melting the metal at high temperature, mixing it together and then cooling it. Alloy will be added in the middle, and molecular force will play a role in the inside, and the strength is generally greater than that of the parent body. The experiment of welding parameters depends on the fusion size of the weld, and the welding parameters are adjusted according to the fusion size until the defects are eliminated. Of course, the quality of welding is related to the pre-welding treatment, such as dust removal and oil stain.
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