logo
Share SHARE
FONT-SIZE Plus   Neg

Servotronics Posts Higher FY11 Profit

Servotronics Inc. (SVT: Quote), a consumer products manufacturer, reported full-year 2011 net income of $2.6 million or $1.24 per share, up from $2.1 million or $1.01 per share the previous year.

The company attributed the increase mainly to higher sales at its Advanced Technology Group along with cost containment activities and a decrease in the effective tax rate associated with the applicability of appropriate tax credits.

Revenues for the full year 2011 increased to $34.2 million from the year-ago revenue of $31.7 million.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The FCC has warned Marriott and other hotel chains to stop the "disturbing trend" of illegally blocking guests' private wi-fi. Marriott, which was fined $600,000 for blocking personal hotspots in hotel rooms and conference spaces, recently stopped the practice after a storm of criticism on social... Apple Inc. said Tuesday after the markets closed that its first quarter profit rose 38% from last year, driven by all time record revenue from iPhone and Mac sales as well as record performance of its App Store. The company's quarterly earnings per share also breezed past Wall Street expectations as did its quarterly sales. We are just a few weeks into 2015 and it has already been a busy year for merger deals and merger talks. Here is a list of some of the M&A stories that have made headlines so far in 2015.
comments powered by Disqus
Follow RTT