Keystone Consolidated Industries, Inc. , reported net income of $4.4 million, or $0.36 per diluted share, in the first quarter of 2010 as compared to a net loss of $4.4 million, or $0.36 per diluted share, in the first quarter of 2009. Sales volume increased significantly during the first quarter of 2010 which resulted in a return to more normal production schedules throughout the quarter. During the first quarter of 2009, economic conditions resulted in a sharp reduction of customer orders and the Company operated on an extremely reduced production schedule, which resulted in a much higher percentage of fixed costs included in cost of goods sold as these costs could not be capitalized into inventory.
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