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Gerber Scientific registers strong growth in Q4

29 Jun '07

3 min read

Gerber Scientific Inc reported net income for the quarter ended April 30, 2007 of $5.6 million, or $0.24 per diluted share, on revenue of $155.1 million, compared with net income of $3.9 million, or $0.17 per diluted share, on revenue of $143.1 million for the fourth quarter ended April 30, 2006.

Results for the fourth quarter of fiscal 2007 included a non-cash, after tax charge for stock option expense of $0.4 million, or $0.02 per diluted share associated with the fiscal 2007 adoption of SFAS 123R, "Share-Based Payment" (SFAS 123R).

Included in fourth quarter of fiscal 2006 results was a non-cash, after tax charge of $0.3 million, or $0.02 per diluted share, related to the adoption of FASB Interpretation No. 47, "Accounting for Contingent Asset Retirement Obligations" (FIN 47).

For the fiscal year ended April 30, 2007, the Company reported net income of $13.5 million, or $0.58 per diluted share, on revenue of $574.8 million. For the fiscal year ended April 30, 2006, the Company reported net income of $2.6 million, or $0.12 per diluted share, on revenue of $530.4 million.

Full year fiscal 2007 net income included stock option expense of $1.0 million, or $0.04 per diluted share associated with the implementation of SFAS 123R.

Net income for fiscal 2006 included a $2.5 million pre-tax charge associated with the early extinguishment of the Company's former credit facility, a $2.3 million tax charge associated with the reversal ofa deferred tax asset in the United Kingdom and a $0.3 million charge related to the cumulative effect of adopting FIN 47. These items cumulatively reduced prior year diluted earnings per share by $0.18.

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