SIFCO Industries Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2015
January 29, 2016 at 04:20 pm
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SIFCO Industries Inc. reported earnings results for the fourth quarter and full year ended September 30, 2015. Net sales in the fourth quarter of fiscal 2015 increased 8.9% to $35.9 million, compared with $33.0 million in the fourth quarter of fiscal 2014. Loss from continuing operations in the fourth quarter of fiscal 2015 was $0.4 million, or $0.06 per diluted share, compared with income of $1.0 million, or $0.17 per diluted share, in the fourth quarter of fiscal 2014. Net Loss was $0.4 million, or $0.07 per diluted share, compared with net income of $0.7 million, or $0.13 per diluted share, in the fourth quarter of fiscal 2014.
Net sales in fiscal 2015 decreased 8.7% to $109.3 million, compared with $119.7 million in fiscal 2014. Operating loss was $5.743 million compared to operating income of $8.087 million a year ago. Loss from continuing operations before income tax (benefit) provision was of $6.025 million compared to income of $8.356 million a year ago. Loss from continuing operations in fiscal 2015 was $3.6 million, or $0.66 per diluted share, compared with income of $5.6 million, or $1.03 per diluted share, in fiscal 2014. Net Loss for fiscal 2015 was $2.9 million, or $0.53 per diluted share, compared with net income of $5.0 million, or $0.92 per diluted share, in fiscal 2014.
SIFCO Industries, Inc. is engaged in the production of forgings and machined components primarily for the aerospace and energy markets. The Company's processes and services include forging, heat-treating, coating and machining. It is a manufacturer of forgings and machined components for the aerospace and defense, energy and commercial space markets. The Company provides its customers with envelope and precision forgings, rough and finished machined components, as well as sub-assemblies. It services both original equipment manufacturers (OEM), Tier 1 and Tier 2 suppliers, and aftermarket service providers with products that range in size from approximately 2 to 1,200 pounds. Its product offerings include OEM and aftermarket components for aircraft and industrial gas turbine engines; steam turbine blades; structural airframe components; aircraft landing gear components; aircraft wheels and brakes; critical rotating components for helicopters, and commercial/industrial products.
SIFCO INDUSTRIES, INC. 
