For the first quarter of fiscal 2012, CRS reported net sales of $414.1 million, up 18% from the same period in 2011. The company registered gross profit of $81.1 million, up 62.9%. Net income increased by 213%.
For fiscal 2012, CRS targets 50% increase in operating income, excluding non-cash pension expense, vs. fiscal 2011.In December 2011, the company announced that it has agreed to acquire the assets of ARwin Machining Plus for approximately $1.4 million. Of the 10 analysts covering the stock, six recommend a buy and three rate a hold. Analysts' average 12-month price target for the stock is $65.40, about 16.8% higher than the current price, according to Bloomberg.