SIFCO Industries, Inc. Announces Fiscal 2010 Third Quarter Financial Results
SIFCO Industries, Inc. (NYSE Amex: SIF) today announced financial results for its fiscal 2010 third quarter, which ended June 30, 2010. Income from continuing operations in the third quarter of fiscal 2010 decreased to $1.0 million, compared with $2.6 million in the comparable fiscal 2009 period. Net income for the third quarter of fiscal 2010 was $1.0 million, or $0.18 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 17.3% in the third quarter of fiscal 2010 to $19.5 million, compared with $23.5 million for the same period a year ago. In the third quarter of fiscal 2010:
For the first nine months of fiscal 2010, income from continuing operations decreased to $4.0 million, compared with $6.3 million in the comparable fiscal 2009 period. Net income for the first nine months of fiscal 2010 was $4.0 million, or $0.75 per diluted share, compared with net income of $6.4 million, or $1.21 per diluted share, for the comparable fiscal 2009 period.
Net sales decreased 16.9% in the first nine months of fiscal 2010 to $60.7 million, compared with $73.0 million for the same period a year ago. In the first nine months of fiscal 2010:
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