|
|
Article: Axsys Technologies Fourth Quarter Sales up 28% and Operating Income up 31%; Company Expects 2006 Net Income Growth of Approximately 40%.
- Article from:
- Business Wire
- Article date:
- February 21, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
ROCKY HILL, Conn. -- Axsys Technologies, Inc. (NASDAQ:AXYS), a global leader in the design, manufacture and distribution of precision optical solutions, today announced financial results for the fourth quarter and year ended December 31, 2005.
Fourth Quarter Financial Highlights - versus fiscal 2004 fourth quarter:
--Sales increased 28% to $35.9 million.
--Gross margin rose to 32.4% from 28.9%.
--Operating income grew 31% to $4.0 million.
--Net income was $2.5 million, compared to $3.1 million in the 2004 period, reflecting the return to a normalized tax rate of 37.5%, compared to a tax benefit (21.0% of income) in the 2004 ...