Starrett Sales, Profit Jump
Athol tool manufacturer L.S. Starrett announced an 8.5-percent increase in sales for its most recently completed quarter, along with a small, 1.2-percent jump in net earnings, according to its second-quarter filing with the Securities and Exchange Commission.
Starrett posted net earnings of $1.71 million for the quarter that ended Dec. 31, 2011, up from $1.69 million in the same quarter a year earlier. Earnings before taxes, however, were down about 6 percent. The company reported about $62.2 million in gross sales, which was up from $57.3 million a year earlier.
The company said demand for its products remained strong around the world, with sales gains in nearly all geographies. It said North American sales rose 14 percent while international sales were up 3 percent.
For the first half of its fiscal year, Starrett's gross sales are up more than 9 percent from the previous year, to $125.6 million. Net earnings, meanwhile, are up close to 34 percent, to $3.96 million.
WBJ Web Partners
Most Recent
Most Recent
0 Comments