Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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.

Click here to receive FREE breaking news email alerts for Servotronics Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
After turning lower over the course of the previous session, stocks showed a substantial move back to the upside during trading on Thursday. The gains more than offset yesterday's loss, extending the recovery from the recent sell-off. Alaska Congressman Don Young, R-Ak., is once again making headlines with comments linking the state's high suicide rate to an increase in government assistance. Young told an audience at a senior center on Wednesday that the suicide problem didn't exist until there was "largesse" from the government. Suggesting moderate growth in the short-term, the Conference Board released a report on Thursday showing that its index of leading U.S. economic indicators rose by more than economists had anticipated in the month of September.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.