ST. CLAIR SHORES, Mich., April 18 /PRNewswire-FirstCall/ -- Federal Screw Works (Pink Sheets: FSCR) reports net sales for the third quarter and nine months ended March 31, 2008, of $16,558,000 and $48,524,000, respectively, compared to net sales of $20,212,000 and $52,747,000 for the third quarter and nine months ended March 31 of the prior year. The Company incurred a net loss of $(837,000) or $(.60) per share, for the quarter, compared to net income of $152,000, or $.11 per share, in the same quarter last year. For the nine months ended March 31, 2008, the net loss was $(2,143,000), or $(1.55) per share, compared to a net loss of $(2,999,000), or $(2.17) per share, in the same period of the prior year. At its meeting today, the Board of Directors declared a regular quarterly cash dividend of $.10 per share, payable July 3, 2008, to shareholders of record June 3, 2008. It elected William G. Harness, Vice President-Corporate Development, and Aaron J. ZurSchmiede, Vice President-Big Rapids Division. Mr. ZurSchmiede was also elected to the Board of Directors. DATASOURCE: Federal Screw Works CONTACT: W. T. ZurSchmiede, Jr., Chairman and CFO of Federal Screw Works, +1-586-443-4152 Web site: http://www.federalscrew.com/

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