Astro-Med Inc. (ALOT: Quote) released its second quarter results after the close of trading on Tuesday, reporting operating income that increased compared to the same period a year ago.
The West Warwick, Rhode Island-based company reported second quarter operating income of $1.678 million compared to $1.223 million in the year-ago quarter.
Everett V. Pizzuti, President and CEO of Astro-Med said, "We are also pleased with the Company's margin improvement during the Quarter. Our Gross Profit Margin rose 350 basis points over the prior year's Second Quarter Gross Profit Margin to 42.4%, while our Operating Margin rose 260 basis points from the previous year's Second Quarter Operating Margin to 8.6%."
"The improved Operating Margin is reflected in the Company's Operating Income of $1,678,000 in the Second Quarter, a 37.2% increase from the Operating Income reported in the prior year's Second Quarter," he added.
The company reported net income of $987 thousand or $0.13 per share compared to $1.05 million or $0.14 per share in the comparable quarter last year.
Astro-Med said net income in the prior year's second quarter includes income of $300,000 or $0.04 share related to the disposition on an insurance policy.
Net sales for the quarter dropped to $19.57 million from $20.34 million in the prior-year quarter.
On August 20, the Directors of Astro-Med, Inc. declared a regular quarterly cash dividend of $0.07 per share, payable on October 4, 2012 to shareholders of record as of September 14, 2012.
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by RTT Staff Writer
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