Interviews
News Flash
Increased order activity @ Gerber's Apparel and Industrial segment
28 Jun '10
5 min read
Outlook and Guidance
“Overall, we are encouraged by our fiscal fourth quarter performance and by current business and market indicators,” said Mr. Giles. “Orders in our fiscal fourth quarter and our order backlog at year end were both at their highest levels since the fiscal 2009 second quarter. Market demand appears to be on the rise as we are seeing increased quote and order activity across most of our business lines.
In the Apparel and Industrial segment, fourth quarter revenues were the highest we've recorded since our fiscal 2009 second quarter. The segment is reporting increased quote and order activity across several product lines and geographic regions – especially from China and Brazil. Equally gratifying, Yunique Solutions, a small software unit we acquired last November, has added seven new customers since our closing of the transaction. Gerber Coburn, our Ophthalmic Lens Processing unit, which has been challenged by weak market conditions in the U.S. retail eyewear industry, recently attended an annual industry conference during which they booked their highest level of orders compared to the previous four conferences. While demand from the markets served by our Sign Making and Specialty Graphics segment remains uneven, Spandex aftermarket sales, on a constant currency basis, were up for the first time since mid fiscal 2009 and sequential quarterly sales at Gerber Scientific Products were up 24 percent in the fourth quarter. All of these indicators give us more comfort that we're on the path to recovery.”
Giles further commented, “We continue to execute on our strategy to streamline our global operations and reduce our permanent cost structure, and recently announced a consolidation of certain U.S. production facilities in the Northeast. While that means we are incurring charges associated with the restructurings, the longer term benefit will be a substantially improved cost structure that will allow us to, if current market trends continue, deliver higher earnings.”
Gerber Scientific, Inc. is a leading international supplier of sophisticated automated manufacturing systems for the sign making, specialty graphics, packaging, apparel, industrial, and ophthalmic lens processing industries. Headquartered in South Windsor, Connecticut, the Company operates through four primary businesses: Gerber Scientific Products, Spandex, Gerber Technology and Gerber Coburn.
“Overall, we are encouraged by our fiscal fourth quarter performance and by current business and market indicators,” said Mr. Giles. “Orders in our fiscal fourth quarter and our order backlog at year end were both at their highest levels since the fiscal 2009 second quarter. Market demand appears to be on the rise as we are seeing increased quote and order activity across most of our business lines.
In the Apparel and Industrial segment, fourth quarter revenues were the highest we've recorded since our fiscal 2009 second quarter. The segment is reporting increased quote and order activity across several product lines and geographic regions – especially from China and Brazil. Equally gratifying, Yunique Solutions, a small software unit we acquired last November, has added seven new customers since our closing of the transaction. Gerber Coburn, our Ophthalmic Lens Processing unit, which has been challenged by weak market conditions in the U.S. retail eyewear industry, recently attended an annual industry conference during which they booked their highest level of orders compared to the previous four conferences. While demand from the markets served by our Sign Making and Specialty Graphics segment remains uneven, Spandex aftermarket sales, on a constant currency basis, were up for the first time since mid fiscal 2009 and sequential quarterly sales at Gerber Scientific Products were up 24 percent in the fourth quarter. All of these indicators give us more comfort that we're on the path to recovery.”
Giles further commented, “We continue to execute on our strategy to streamline our global operations and reduce our permanent cost structure, and recently announced a consolidation of certain U.S. production facilities in the Northeast. While that means we are incurring charges associated with the restructurings, the longer term benefit will be a substantially improved cost structure that will allow us to, if current market trends continue, deliver higher earnings.”
Gerber Scientific, Inc. is a leading international supplier of sophisticated automated manufacturing systems for the sign making, specialty graphics, packaging, apparel, industrial, and ophthalmic lens processing industries. Headquartered in South Windsor, Connecticut, the Company operates through four primary businesses: Gerber Scientific Products, Spandex, Gerber Technology and Gerber Coburn.
Gerber Scientific Inc
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