SIFCO Industries, Inc. (NYSE MKT: SIF) today announced financial results for its first quarter fiscal 2013, which ended December 31, 2012.
- Net sales from continuing operations increased 16.1% in the first quarter of fiscal 2013 to $28.7 million, compared with $24.7 million in the comparable period in fiscal 2012.
- Income from continuing operations in the first quarter of fiscal 2013 was $0.9 million, or $0.17 per diluted share, compared with $0.8 million, or $0.16 per diluted share in the comparable fiscal 2012 period.
- Income from discontinued operations, net of tax, which consists of the Company’s former Applied Surface Concepts segment, was $2.5 million in the first quarter of fiscal 2013, compared with $0.4 million in the comparable period of fiscal 2012.
- Net income in the first quarter of fiscal 2013 was $3.4 million, compared with $1.2 million in the comparable period in fiscal 2012.
- EBITDA in the first quarter of fiscal 2013 was $3.0 million, or 10.6% of net sales, compared with $2.9 million, or 11.7% of net sales, in the comparable fiscal 2012 period.
- Adjusted EBITDA in the first quarter of fiscal 2013 was $3.7 million, or 12.9% of net sales, compared with $3.6 million, or 14.7% of net sales, in the comparable fiscal 2012 period.
In December 2012, the Company completed the sale of its Applied Surface Concepts business segment. CEO Michael S. Lipscomb stated, “I am pleased with the performance of our Forged Components Group. Our recent divestiture of the Applied Surface Concepts business segment was done after careful consideration of our core strengths. We will continue to seek organic growth and acquisition opportunities that add to our customer offerings and maintain our aerospace and energy focus.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV