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Gerber announces Q2 results for fiscal 2008
03 Jan '08
3 min read
The Company used $5.0 million in cash flows from operations, less capital expenditures, for the first six months of fiscal 2008 as compared with a cash usage of $10.3 million in the prior year comparable period.
Marc T. Giles, President and Chief Executive Officer, commented: "The Company reported continued revenue growth during its second quarter as compared with the prior year, with an increase of $15.7 million, or 10.8 percent. The Sign Making and Specialty Graphics segment was the primary contributor to revenue growth in the second quarter of fiscal 2008 through the favorable impact of foreign currency translation, organic growth and the impact of the recent acquisition of Data Technology.”
“Additionally, the Company reported its highest quarterly revenue ever in China, which increased by over 30 percent as compared with the prior year second quarter. This growth was primarily attributable to new products, particularly the Apparel and Flexible Material segment's XLc7000 multi-ply GERBERcutter.”
“Although revenue increased during the second quarter of fiscal 2008, operating profit declined by $1.3 million, primarily as a result of strategic investments made related to new product introductions and non-recurring professional fees incurred during the quarter. We expect that these strategic investments will benefit the Company beginning in the second half of fiscal 2008."
Giles continued, "We continue to focus on growth through new product introductions. During the second quarter, our Sign Making and Specialty Graphics segment announced its newest offering in the wide-format UV inkjet printer marketplace – the Gerber Solara ion. We are very excited about the early market response to this product, as indicated by advance orders. Additionally, the Ophthalmic Lens Processing segment announced the launch of two new products that form the basis of our Advanced Lens Processing System with free-form capability, a significant milestone for this operating segment."
Marc T. Giles, President and Chief Executive Officer, commented: "The Company reported continued revenue growth during its second quarter as compared with the prior year, with an increase of $15.7 million, or 10.8 percent. The Sign Making and Specialty Graphics segment was the primary contributor to revenue growth in the second quarter of fiscal 2008 through the favorable impact of foreign currency translation, organic growth and the impact of the recent acquisition of Data Technology.”
“Additionally, the Company reported its highest quarterly revenue ever in China, which increased by over 30 percent as compared with the prior year second quarter. This growth was primarily attributable to new products, particularly the Apparel and Flexible Material segment's XLc7000 multi-ply GERBERcutter.”
“Although revenue increased during the second quarter of fiscal 2008, operating profit declined by $1.3 million, primarily as a result of strategic investments made related to new product introductions and non-recurring professional fees incurred during the quarter. We expect that these strategic investments will benefit the Company beginning in the second half of fiscal 2008."
Giles continued, "We continue to focus on growth through new product introductions. During the second quarter, our Sign Making and Specialty Graphics segment announced its newest offering in the wide-format UV inkjet printer marketplace – the Gerber Solara ion. We are very excited about the early market response to this product, as indicated by advance orders. Additionally, the Ophthalmic Lens Processing segment announced the launch of two new products that form the basis of our Advanced Lens Processing System with free-form capability, a significant milestone for this operating segment."
Gerber Scientific Inc
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