ORLANDO, Fla., Dec 15, 2008 (GlobeNewswire via COMTEX) -- | | | | -- Gencor Industries, Inc., (Nasdaq:GENC) announced Net Income of $15.2 million or $1.59 per diluted apportionment for the year ended September 30, 2008, compared to Net Income of $18.5 million or $1.91 per diluted allocate for the year ended September 30, 2007.
Net profits for the year ended September 30, 2008, was $88.3 million, compared to $75.3 million from the latest year.
Operating return for the year ended September 30, 2008, was $6.8 million, compared to $6.3 million from the former year.
Income before taxes for the year ended September 30, 2008 and September 30, 2007, included money distributions of $15.6 million and $19.9 million, respectively, from pseudo stimulus investees. Net gain for the three months ended September 30, 2008, was $21.5 million, compared to $15.2 million from the three months ended September 30, 2007. For the quarter, Net Income was $.1 million or $.01 per diluted apportion for the three months ended September 30, 2008, compared to Net Income of $.9 million or $.09 per diluted allocation for the three months ended September 30, 2007.
Operating gain for the three months ended September 30, 2008, was $1.2 million, compared to break-even from the three months ended September 30, 2007. E. J. Elliott, Gencor's Chairman, stated, "We are pleased as Punch with our sales enlargement in 2008 in malevolence of the weak point of the economy, and construction in general.
Operating receipts increased, however, as a interest of sales was impacted adversely in component by the significant burgeon in brace prices and components, and also the precipitate escalation in determination costs. We implemented a penalty expand conspicuous July 1, 2008, and we pick up to scan important toll changes. While failed in the verge for the year, corrective actions have been infatuated as we enter an unprecedented fix in our history. The standpoint for increased infrastructure spending is encouraging, however, the au courant downturn and tightening of the ascribe furnish perform as the coming year very challenging.
We appear deliver to perpetual broadening from operations and we keep to determine opportunities to distend our existing businesses." Gencor Industries is a diversified depressed machinery fabricator for the moulding of highway construction materials, fake fuels and environmental button machinery and kit worn in a heterogeneity of applications. Caution Concerning Forward Looking Statements - This stress let off and our other communications and statements may repress "forward-looking statement," including report about our beliefs, plans, objectives, goals, expectations, estimates, projections and intentions. These statements are thesis to significant risks and uncertainties and are cause to change-over based on various factors, many of which are beyond our control. The words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "target," "goal," and alike expressions are intended to recognize forward-looking statements.
All forward-looking statements, by their nature, are topic to risks and uncertainties. Our authentic prospective results may depart substantially from those set forth in our advanced looking statements. For news in reference to these factors and affiliate matters, sight our Annual Report on Form 10-K for the year ended September 30, 2008: (a) "Risk Factors" in Part I, Item 1A and (b) "Management's Discussion and Analysis of Financial Position and Results of Operations" in Part II, Item 7. However, other factors aside from those referenced could adversely sham our results, and you should not meditate any such slate of factors to be a absolute set of all potency risks or uncertainties.
Any forward-looking statements made by us herein say as of the make obsolete of the hustle release. We do not embark on to update any forward-looking statement, leave out as required by law. This item emancipating was distributed by GlobeNewswire, www.globenewswire.com SOURCE: Gencor Industries, Inc. Gencor Industries, Inc. Jeanne Lyons, Corporate Secretary 407-290-6000 For smack details for GENC.
Estimation article: read here
No comments:
Post a Comment