SIFCO Industries, Inc. (NYSE MKT: SIF) today announced financial results for its fiscal 2012 fourth quarter, which ended September 30, 2012.
- Net sales increased 4.2% in the fourth quarter of fiscal 2012 to $31.6 million, compared with $30.3 million in the comparable period in fiscal 2011.
- Net income for the fourth quarter of fiscal 2012 was $1.2 million, or $0.22 per diluted share, compared with net income of $2.2 million, or $0.41 per diluted share in the comparable fiscal 2011 period.
- EBITDA in the fourth quarter of fiscal 2012 was $3.5 million, or 11.0% of net sales, compared with $4.9 million, or 16.0% of net sales, in the comparable fiscal 2011 period.
- Adjusted EBITDA in the fourth quarter of fiscal 2012 was $4.6 million, or 14.6% of net sales, compared with $5.2 million, or 17.3% of net sales, in the comparable fiscal 2011 period.
- Net sales increased 16.5% in fiscal 2012 to $125.1 million, compared with $107.4 million in fiscal 2011.
- Net income in fiscal 2012 was $6.5 million, or $1.22 per diluted share, compared with net income of $7.4 million, or $1.40 per diluted share, in fiscal 2011.
- EBITDA in fiscal 2012 was $16.5 million, or 13.2% of net sales, compared with $15.7 million, or 14.6% of net sales, in fiscal 2011.
- Adjusted EBITDA in fiscal 2012 was $19.8 million, or 15.8% of net sales, compared with $17.2 million, or 16.1% of net sales, in fiscal 2011.
The results for fiscal 2012 include the results of Quality Aluminum Forge, which was acquired on October 28, 2011.Non-GAAP Supplemental Information Neither EBITDA nor Adjusted EBITDA is a measurement of financial performance under accounting principles generally accepted in the United States of America (“GAAP”). EBITDA and Adjusted EBITDA are presented in this press release as supplemental disclosures to net income and reported results. References to “EBITDA” mean earnings before interest, taxes, depreciation and amortization, and references to “Adjusted EBITDA” mean EBITDA plus, as applicable for each relevant period, certain adjustments as set forth in the reconciliations of net income to EBITDA and Adjusted EBITDA.
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