The L. S. Starrett Company today reported fiscal 2012 fourth quarter and full year financial results for the periods ended June 30, 2012.
- Revenues of $260 million were the second highest in the history of the Company
- Non-GAAP fiscal 2012 earnings, which were adjusted to exclude a pension adjustment, were $10.0 million or $1.48 per share compared to GAAP earnings of $6.8 million or $1.02 per share in fiscal 2011
- GAAP fiscal 2012 earnings, including the pension adjustment, were $0.9 million or $0.13 per share
- A $15.2 million non-cash pension adjustment was recorded in the fourth quarter of fiscal 2012.
“Our Company had a strong year with growth in revenue and operating income in both the North American and International markets,” said President and CEO Douglas Starrett.
The table below illustrates the impact of the non-cash pension adjustment in the fourth quarter and full year.
|% of Sales||18.6||%||35.7||%||33.3||%||30.0||%||34.6||%||33.4||%|
|S, G & A Expenses||22.7||3.2||19.5||19.5||79.9||3.2||76.7||70.8|
|Net Earnings (Loss)||($4.6||)||$||9.1||$||4.5||$||1.5||$||0.9||$||9.1||$10.0||$||6.8|
|Earnings (loss) per share||($0.68||)||$||1.35||$||0.67||$||0.23||$||0.13||$||1.35||$1.48||$||1.02|
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