SIFCO Industries, Inc. Announces Fiscal 2010 Second Quarter Financial Results
SIFCO Industries, Inc. (NYSE Amex: SIF) today announced financial results for its fiscal 2010 second quarter, which ended March 31, 2010. Income from continuing operations in the second quarter of fiscal 2010 decreased to $1.0 million, compared with $2.1 million in the comparable fiscal 2009 period. Net income for the second quarter of fiscal 2010 was $1.0 million, or $0.19 per diluted share, compared with a net income of $2.4 million, or $0.45 per diluted share for the comparable fiscal 2009 period.
Net sales decreased 23.3% in the second quarter of fiscal 2010 to $19.9 million, compared with $25.9 million for the same period a year ago. In the second quarter of fiscal 20010:
For the first six months of fiscal 2010, income from continuing operations decreased to $3.0 million, compared with $3.6 million in the comparable fiscal 2009 period. Net income for the first six months of fiscal 2010 was $3.0 million, or $0.56 per diluted share, compared with net income of $4.0 million, or $0.76 per diluted share, for the comparable fiscal 2009 period.
Net sales decreased 16.8% in the first six months of fiscal 2010 to $41.2 million, compared with $49.5 million for the same period a year ago. In the first six months of fiscal 2010:
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