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SL Industries Announces 2011 Third Quarter Results

SL INDUSTRIES, INC. (NYSE AMEX: SLI) announced today that its net sales for the quarter ended September 30, 2011, were $52.1 million, up 6% compared with net sales for the third quarter 2010 of $49.1 million.

Income from continuing operations for the quarter ended September 30, 2011 was $2.5 million, or $0.55 per diluted share, a 9% increase over income from continuing operations of $2.3 million, or $0.38 per diluted share, for the third quarter 2010.

Net income for the quarter ended September 30, 2011 was $2.3 million, or $0.50 per diluted share, compared to net income of $2.1 million, or $0.34 per diluted share for the third quarter of 2010. Net income for the quarter ended September 30, 2011 included a net loss from discontinued operations of $0.3 million, or $0.05 per diluted share, compared to a net loss of $0.3 million, or $0.04 per diluted share, for the third quarter 2010. The net losses from discontinued operations for the third quarter of 2011 and 2010 were generated by expenses related to environmental remediation, net of tax.

For the nine months ended September 30, 2011, net sales were $161 million, up 16% compared with net sales for the nine months ended September 30, 2010 of $139.1 million.

For the nine months ended September 30, 2011, income from continuing operations was $9.8 million, or $2.14 per diluted share, up 72% compared to income from continuing operations of $5.7 million, or $0.93 per diluted share, for the nine months ended September 30, 2010.

Net income for the nine months ended September 30, 2011 was $9.9 million, or $2.17 per diluted share, compared to net income of $4.2 million, or $0.69 per diluted share, for the nine months ended September 30, 2010. Net income for the nine months ended September 30, 2011 included net income from discontinued operations of $0.1 million, or $0.03 per diluted share, compared to a net loss of $1.5 million, or $0.24 per diluted share, for the nine months ended September 30, 2010. Net income from discontinued operations for the nine months ended September 30, 2011 was generated by a $0.8 million non-cash gain from a favorable tax settlement associated with the company’s former German subsidiary, which was sold in January 2003. This income was partially off-set by losses related to environmental remediation, net of tax. The majority of the loss for the nine months ended September 30, 2010 was related to a $1.3 million pre-tax charge for environmental remediation at the Company’s closed facility located in Camden, New Jersey.

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