Correction: Standex profit rises 23%



Published:

A Sept. 9 NHBR.com story about Standex International Corp. contained several errors and omissions.The Salem-based manufacturer's profit actually rose almost 23 percent in its fiscal fourth quarter on strong performances by its engineering technologies and electronics and hydraulics operations.Earnings increased 18.9 percent in its engraving business, 27.1 percent in engineered technologies and 41.7 percent in electronics and hydraulics. But earnings fell 8.2 percent in food service equipment, although margins rose.Standex also said it had a smaller loss from air distribution products and cut corporate losses.For the three months ending June 30, Standex reported net income of $10.3 million, or 81 cents per share. That compares with $8.4 million, or 66 cents per share, a year earlier.Revenue increased 14.8 percent to $174.6 million from $152.1 million.For the full fiscal year, net income rose 23.2 percent to $35.4 million, or $2.77 per share, from $28.7 million, or $2.26 a share, a year ago. Annual revenue increased 9.6 percent to $633.8 million from $578.5 million. -- NEW HAMPSHIRE BUSINESS REVIEW

 

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