- Third quarter net sales totaled $26.9 million, down from $29.2 million in the prior year quarter, mainly due to lower sales of wind power inverters. Material handling sales increased 9% over last year to more than $21 million.
- Third quarter gross margin increased to 36.0% of sales in fiscal 2012 from 33.6% in the same period last year, due to a favorable shift in product mix.
- Continuing operations remained firmly profitable, with net income of $1.7 million, or $.51 per diluted share, compared to prior year net income from continuing operations of $2.0 million, or $.61 per diluted share.
- Cash balances increased to $27.4 million at the end of the third quarter after the Company contributed $3.9 million to its pension plan during the quarter.
- Third quarter fiscal 2012 bookings remain strong at nearly $29 million, and order backlog increased by $1 million during the third quarter of fiscal 2012.
Magnetek Announces Third Quarter Fiscal 2012 Results
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