Company: Gerber Scientific, Inc, GRB
Manufactuting equipment maker Gerber Scientific Inc. said Thursday its profit almost tripled for its fiscal first quarter largely due to foreign exchange swings as revenue rose slightly. Gerber, which makes automated manufacturing systems used for signs, specialty graphics, apparel and optical lenses, said it has identified ways to cut costs that should help its results in the second half.
Its shares rose $1.02, or 20 percent, to $6.15 in morning trading. The company reported net income of $1.5 million, or 6 cents per share, for the three months ended July 31 compared with $514,000, or 2 cents per share, a year ago. The latest results included $700,000 in foreign exchange gains, while its results a year ago refrlected a loss of $700,000 from foreign exchange. Revenue rose 8 percent to $118.3 million from $109.4 million a year ago.
Gerber Scientific, Inc., is the leader in providing innovative end-to-end customer solutions to the world’s sign making, specialty graphics, packaging, apparel, industrial, and ophthalmic lens processing industries. Our software, computerized manufacturing systems, supplies, and service are fully integrated for maximum customer support and flexibility. Their software, computerized manufacturing systems, supplies, and service are fully integrated for maximum customer support and flexibility. The scope and scale of their combined global resources enable our individual business units to leverage each other’s strengths and share efficiencies for operational excellence. Focused on helping their customers win in their markets, Gerber Scientific continues to pursue new ways to drive innovation, lower costs, and deliver world-class service.
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