SIFCO Industries, Inc. (SIF), a provider of forgings and machined components, Tuesday announced narrower net loss for the fourth quarter with higher sales.
For the quarter, the net loss narrowed to $0.44 million or $0.08 per share from loss of $3.10 million or $0.52 per share in the previous year.
Net loss from continuing operations was $1.88 million or $0.33 per share, compared to net loss of $3.22 million or $0.53 per share a year ago.
The adjusted EBITDA increased to $0.786 million from a loss of $1.27 million last year.
The net sales increased 14% to $21.66 million from $19.02 million a year ago.
Looking ahead, CEO George Scherff said, "...we are encouraged by the continued demand for our solutions, as evidenced by the growth in our customer backlog to $114.4 million at the end of fiscal 2024. In response, we have increased production in support of our customers' needs for the upcoming year and beyond."
Monday, SIF had closed 18.75% less at $3.25 on the NYSE American. In the after-hours trading, SIF is further 0.62% down at $3.23.
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