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Stock Alert: SIFCO Industries Stock Surged 58% In Late Trade

Shares of SIFCO Industries Inc. (SIF) jumped 58% in extended trading session on May 12, following the company's strong Q2 results.

The stock has been trading between $1.89 and $5.62 for the past one year, and closed Tuesday's trade at $2.20, up 0.11%. SIF, further, gained $1.30 or 58.91% in the after-market trading session.

The company reported Q2 net income of $3.3 million or $0.57 per share compared to a loss of $1.3 million or $0.23 per share last year.

Net sales for the quarter increased 11.5% to $30.5 million, compared with $27.4 million for the same period in fiscal 2019.

CEO Peter Knapper, said, "The second quarter was strong in terms of financial performance as we continue to execute on our business strategy. As we move forward in these extremely volatile and uncertain times, we will focus on safely serving our customers first, while aggressively conserving working capital everywhere practical."

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