Business
Astro-Med has record net sales
01:00 AM EDT on Wednesday, March 19, 2008
Astro-Med Inc., based in West Warwick, yesterday reported record net sales in the fourth quarter and raised the company’s dividend from 5 cents per share to 6 cents per share, payable on April 1 to shareholders as of March 21.
Fourth-quarter sales were $18.1 million, compared with $17.6 million in the year-ago period. The company reported net income of $1.3 million, or 19 cents per share, compared with $799,000, or 12 cents a share, in the year-earlier period.
Astro-Med said favorable foreign currency exchange rates added approximately $435,000 to fourth-quarter sales. Net income in the fourth quarter included a restructuring charge of approximately $316,000 after tax. Fourth-quarter net income also included a tax benefit of $739,000 related to the closing of sales and service offices in Italy and the Netherlands.
Albert W. Ondis, chairman and chief executive officer, said, “I am particularly gratified to announce that Astro-Med’s financial results were quite strong for the entire fiscal year, a period which saw a mild economic downturn in many sectors of the economy.”
Everett V. Pizzuti, president and chief operating officer, said, “Customer demand was healthy, with new orders reaching $74,393,000, an increase of 11.4 percent over the previous year.”
Shares of Astro-Med (ALOT:Nasdaq) closed yesterday at $9.01 each, down 44 cents a share.
| Johnston's Central Landfill: More than just putting trash in a hole in the ground | |
| Tour points to transformation of South Side, Elmwood | |
| Seekonk turkey farm marks 65th anniversary |
|
More business stories
Journal considering fee for some content on projo.com
Gem Plumbing & Heating gets state aid to install solar-power system
Most Viewed Yesterday
R.I. Bishop Tobin has testy exchange with MSNBC’s Chris Matthews
Providence Bishop Tobin says Kennedy ‘erratic’ — but he’s not referring to mental-health issues
Head nurse testifies in Woods’ suit
Native American artifacts thousands of years old halt sewer installation in Warwick, R.I.
Most active surveys
Should URI consider discontinuing its football program?
Who will win the PC-URI basketball game?
Saints or Colts: Which 10-0 team is more impressive?
What’s your customer service experience been like while shopping recently?
Most e-mailed in the last 24 hours
Reader Reaction










You must be logged in to contribute. Log in | Register Now!
You are logged in as screenname | Log Out
You are logged in, but do not have a "screen" name. Create a Screen Name