SIFCO Industries, Inc. Reports Earnings Results for the First Quarter Ended December 31, 2016
January 01, 2017 at 02:58 am IST
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SIFCO Industries Inc. reported earnings results for the first quarter ended December 31, 2016. Net sales from operations in the first quarter of fiscal 2017 increased 15.9% to $31.5 million, compared with $27.2 million in the first quarter of fiscal 2016. Loss from operations before income tax expense in the first quarter of fiscal 2017 was $2.3 million compared with a loss from operations before income tax benefit of $4.5 million in the first quarter of fiscal 2016. Operating loss was $1,721,000 compared to $4,228,000 a year ago. Net loss was $2,609,000 or $0.48 per basic and diluted share compared to $2,598,000 or $0.48 per basic and diluted share a year ago.
SIFCO Industries, Inc. is engaged in the production of forgings and machined components primarily for the aerospace and energy markets. The Company's processes and services include forging, heat-treating, coating and machining. It is a manufacturer of forgings and machined components for the aerospace and defense, energy and commercial space markets. The Company provides its customers with envelope and precision forgings, rough and finished machined components, as well as sub-assemblies. It services both original equipment manufacturers (OEM), Tier 1 and Tier 2 suppliers, and aftermarket service providers with products that range in size from approximately 2 to 1,200 pounds. Its product offerings include OEM and aftermarket components for aircraft and industrial gas turbine engines; steam turbine blades; structural airframe components; aircraft landing gear components; aircraft wheels and brakes; critical rotating components for helicopters, and commercial/industrial products.
SIFCO INDUSTRIES, INC. 
