Gerber announces Q2 results for fiscal 2008

03 Jan '08

3 min read

Gerber Scientific, Inc reported net income of $2.5 million for the second quarter of fiscal 2008, or $0.11 per diluted share, on revenue of $160.7 million, compared with net income of $3.7 million, or $0.16 per diluted share, on revenue of $145.0 million for the second quarter of fiscal 2007.

Included in the Company's net income for the quarter ended October 31, 2007 were non-recurring after-tax charges of $0.7 million, or $0.03 per diluted share, of professional fees related to external assistance associated with the Company's adoption of Financial Accounting Standards Board Interpretation No. 48, Accounting for Uncertainty in Income Taxes – an interpretation of FASB Statement No. 109.

Foreign currency translation had the effect of increasing revenue by approximately $8.4 million in the second quarter of fiscal 2008 compared with the second quarter of fiscal 2007.

For the six months ended October 31, 2007, the Company reported net income of $5.3 million, or $0.23 per diluted share, on revenue of $314.4 million, compared with net income of $5.7 million, or $0.25 per diluted share, on revenue of $282.5 million for the six months ended October 31, 2006.

Also included in the Company's net income were non-recurring after-tax charges of $0.7 million of professional fees referred to above which reduced diluted earnings per share by $0.03 for the six months ended October 31, 2007. Foreign currency translation had the effect of increasing revenue by approximately $14.6 million for the six months ended October 31, 2007, as compared with the six months ended October 31, 2006.

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