SIFCO Industries, Inc. (NYSE:SIF) has announced the financial results for the 2009 fourth quarter earnings. It’s income from continuing operations before taxes was reported to have increased to $2.4 million, compared to the $0.04 million earned during the comparable fiscal 2008 period. $0.8 million of expense of a long lived asset impairment of $0.4 million LIFO provision was included in the income from continuing operations prior to taxes during the fourth quarter.
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Net sales decreased 16.2% during the fourth quarter for a total of $20.9 million while previous year earned $24.9 million during the same period. The company’s Aerospace Component Manufacturing Group, Turbine Components Services and Repair Group, and Applied Surface Concepts Group net sales were reported at $2.1 million, $1.2 million, and $0.8 million respectively. The previous year earned $18.0 million, $3.1 million, and $3.8 million respectively during the same period.
SIFCO Industries, Inc. (SIFCO) is engaged in the production and sale of a range of metalworking processes, services and products produced primarily to the specific design requirements of its customers. The processes and services include forging, heat-treating, coating, welding, machining and selective electrochemical finishing. The products include forged components, machined forged parts and other machined metal components, remanufactured components for aerospace turbine engines, and selective electrochemical finishing solutions and equipment. The Company’s operations are conducted in three business segments: Aerospace Component Manufacturing Group, Turbine Component Services and Repair Group, and Applied Surface Concepts Group.
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