SIFCO Industries Q3 Profit Down - Quick Facts

(RTTNews) - SIFCO Industries Inc. (SIF) reported that its net income for its third quarter of fiscal year 2014 declined to $1.91 million or $0.36 per share from $2.48 million or $0.46 per share in the year ago quarter.

Net income from continuing operations for third quarter was $2.0 million, or $0.37 per share, compared with net income of $2.9 million, or $0.53 per share in third quarter fiscal 2013.

Net sales from continuing operations in third quarter increased 8.1% to $31.0 million, compared to $28.7 million in third quarter fiscal 2013.

CEO Michael S. Lipscomb said, "SIFCO's year-over-year sales from its continuing operations reflect sustained growth in its aerospace component sales and a recovery in its energy component sales during the quarter. We foresee strong aerospace sales volume and even though we see looming problems with long term volume in energy, we see continuing recovery in the energy markets during the remainder of fiscal 2014. SIFCO is well positioned for sales growth for the remaining quarter in fiscal 2014."