Hawk Raises Guidance, Shares Soar (HWK)

Hawk Corporation

announced today it is raising its guidance for 2010 net sales and operating income based on the expected strength of its second quarter results and an improved outlook for the second half of 2010. Hawk is increasing its guidance for 2010 full year net sales to a range of between $225-232 million from its previous guidance range of between $200-210 million. The company is raising its guidance for full year operating income to a range of between $32-35 million versus its previous forecast of between $23-25 million. CEO Ronald Weinberg said, "The volatility that persisted in 2009 is giving way to more certainty that our first quarter results are sustainable. We believe Hawk is benefitting from the improving global economy, and we specific strength in our construction and mining and heavy truck end markets." Hawk is a leading supplier of friction materials for brakes, clutches and transmissions used in airplanes, trucks, construction and mining equipment, farm equipment and automotive vehicles. Shares of Hawk are higher by $2.15, or 10.06%, to $23.52. You Can't Afford Miss Out On These Trading