Graham 4Q profits slip - San Francisco Business Times:

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Net income in the fourth quarteewas $3.6 million, or 35 cents per a decline of 14.6 percent from $4.2 million, or 41 cents per share, year-over-year. The Batavia-based manufacturer (AMEX: GHM) noted a restructuring in the perio d through the elimination ofcertain management, officde and manufacturing positions. The number of jobs cut was not discloser but resulted in a chargeof $559,000, whicg included severance and related employee benefit costs. The restructuring is expecter to yieldapproximately $2.7 million in annual cost Fourth-quarter net sales were $24.98 million, up 9.2 percent, from $22.8i million in the prior year’s fourth quarter.
Full-year net incomr in fiscal 2009was $17.5 up 16.2 percent from $15.0 million in fiscal 2008. On a per sharse basis, net income in fiscal 2009 was $1.71 comparerd with $1.49 in fiscal a 14.8 percent improvement. For the year ended March 31, 2009 revenure was a record $101.1 million, 17 percentf higher than $86.4 million for the fiscal year endedMarcbh 31, 2008.