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Gerber Scientific Tops Estimates

The company's first-quarter revenue rises 7%.
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Gerber Scientific

(GRB)

reported year-over-year revenue growth of nearly 7% and swung to a fiscal first-quarter profit, which it credited to new-product sales and a strong performance in China.

The South Windsor, Conn., supplier of software and systems for signmaking and graphics had earnings of $2 million, or 9 cents a share, for the fiscal quarter, 2 cents ahead of the consensus estimate compiled by Thomson First Call.

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Gerber Scientific had a loss of $1.1 million, or 5 cents a share, for the same period the prior year. The year-ago quarter included a noncash tax charge of $2.3 million, or 10 cents a share.

Also during the quarter, the company's revenue rose to $137.5 million from the $128.8 million generated in the prior-year period.

"Our operating income of $4.4 million reflects an increase of 28% over the comparable quarter in the prior year," said Gerber Scientific President and Chief Executive Marc Giles. "During the quarter, we used $10.1 million of cash from operations less capital expenditures, primarily to fund higher inventories and other working-capital requirements."