logo
Share SHARE
FONT-SIZE Plus   Neg

Servotronics Posts Higher FY11 Profit

Servotronics Inc. (SVT), 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

Quick Facts

Editors Pick
Yamaha Motor Co. is planning to recall multiple three-cylinder motorcycle models due to a safety issue with the lower handlebar, Asphalt & Rubber has reported. According to the report, the stud bolt threads might not have enough thread-locking agent applied to them due to the lower handlebar being improperly painted. Uber is closing its ride-hailing services in Denmark next month, citing upcoming changes in regulations that would make its app unworkable for consumers. The San Francisco-based company said in a blog post that it will close its services on April 18, 2017, as the new laws currently being proposed in Denmark will not allow drivers to use their privately owned cars for ride sharing. Breitbart News' request for permanent congressional press passes was denied on Monday, citing concerns about the website's links to the White House and the Republican mega-donor family the Mercers. The U.S. Senate Daily Press Gallery, comprised of a group of five reporters, denied the Capitol Hill press credentials saying members were not satisfied with the given information about its connections.
comments powered by Disqus
Follow RTT