QualityStocks.net News – Hirsch International Corp. (HRSH) Reports $2.7 Million Increase in Q4 Revenues

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We would like to highlight Hirsch International Corp. (NASDAQ: HRSH). The company is a leading provider of equipment and education and support services to the graphic and decorated apparel industry. The Company exclusively represents the decorated apparel industry's leading brands including Tajima embroidery equipment, MHM screen printing equipment, SEIT textile bridge lasers, Pulse Microsystems digitizing and design software and now Kornit digital garment printers.

In the Company’s news today,

Hirsch International Corp. reported its financial results for the fourth quarter and 12 months ended Dec. 31, 2007. The North American provider of embroidery, screen printing and textile-laser systems reported net income for 2007 at $2.1 million, or 22 cents per diluted share, up from $1.3 million, or 14 cents per share, from the year prior.

Last year the company changed its fiscal year end from Jan. 28, 2006, to Dec. 31, 2006, which is reflected in the company’s reporting of financial results for the 12 months ended Dec. 31, 2007. Therefore, the 12 months ended Dec. 31, 2007 are compared with the 11 months ended Dec. 31, 2006.

“Revenues in the fourth quarter continued to reflect a challenging market environment. Despite the soft market we experienced throughout 2007, we are pleased with our overall achievements for the year,” Paul Gallagher, Hirsch’s president and CEO stated in the press release. “Net income increased 57 percent to over $2 million; our balance sheet strengthened with over $16 million of cash; and we made significant progress expanding both our product offering and market presence with a 15 percent increase in ‘on the street’ staffing – all of which will provide a perfect platform to capitalize on the eventual and inevitable rebound in the economy and industry.”

Gallagher stated that Hirsch is entering its 40th year of operation with a strong business model and “superior service and customer support.” “We believe our strong balance sheet, talented management team, and depth of experience in the industry provides us with the strength and agility to continue to seize growth opportunities within the $43 billion decorated apparel business. We remain committed to excellence in all that we do,” he stated.

For the 12-month period, Hirsch reported revenues at $52.6 million, up $2.7 million, or 5.4 percent from the previous year.

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