SIFCO Industries, Inc. Announces Fiscal 2012 Second Quarter Financial Results

SIFCO Industries, Inc. (NYSE Amex: SIF) today announced financial results for its fiscal 2012 second quarter, which ended March 31, 2012.

Second quarter

• Net sales increased 27.1% in the second quarter of fiscal 2012 to $34.1 million, compared with $26.8 million in the comparable period in fiscal 2011.
• Net income for the second quarter of fiscal 2012 was $1.7 million, or $0.32 per diluted share, compared with a net income of $2.0 million, or $0.38 per diluted share for the comparable fiscal 2011 period.
• EBITDA in the second quarter of fiscal 2012 was $4.4 million, or 13.0% of net sales, compared with $4.4 million, or 16.5% of net sales, in the comparable period in fiscal 2011.
• Adjusted EBITDA in the second quarter of fiscal 2012 was $5.3 million, or 15.7% of net sales, compared with $4.9 million, or 18.1% of net sales, in the comparable period in fiscal 2011.

First six months

• Net sales increased 29.9% in the first six months of fiscal 2012 to $62.6 million, compared with $48.2 million in the comparable period in fiscal 2011.
• Net income for the first six months of fiscal 2012 was $2.9 million, or $0.55 per diluted share, compared with net income of $3.2 million, or $0.60 per diluted share, for the comparable fiscal 2011 period.
• EBITDA in the first six months of fiscal 2012 was $7.9 million, or 12.6% of net sales, compared with $6.9 million, or 14.3% of net sales, in the comparable period in fiscal 2011.
• Adjusted EBITDA in the first six months of fiscal 2012 was $9.6 million, or 15.3% of net sales, compared with $7.7 million, or 15.9% of net sales, in the comparable period in fiscal 2011.

The results for fiscal 2012 include the results of Quality Aluminum Forge, which was acquired on October 28, 2011.

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