SOUTH WINDSOR, Conn.—In
pre-tax operating results for the fiscal quarter ended July 31,
2007, Gerber Scientific (NYSE:GRB) reported operating income of
$4.4 million on revenue of $153.7 million. This compared with
operating income of $4.4 million on revenue of $137.5 million for
the first quarter of fiscal 2007.
Foreign currency translation had the effect of increasing revenue
by approximately $6.2 million for the fiscal 2008 first quarter
over the fiscal 2007 comparable period. Included in the company's
operating income for the fiscal quarter ended July 31, 2007 were
incremental pre-tax severance related costs of $0.8 million as
compared with the same period in fiscal 2007.
Gerber Scientific reported income before income taxes for the
fiscal quarter ended July 31, 2007 of $4.1 million, compared with
$3.4 million for the first quarter of fiscal 2007. The company's
income before income taxes for the first quarter of fiscal 2008
included incremental pre-tax severance related costs of $0.8
million as referred to above and a non-operating gain of $1.0
million from the sale of a product line within the Gerber Coburn
ophthalmic lens processing segment.
The company generated cash flow from operations, less capital
expenditures, for the first quarter of fiscal 2008 of $3.4 million
as compared with a use of cash of $10.1 million in the prior year
comparable period.
Gerber Scientific president and chief executive officer, Marc T.
Giles noted that operating margin as a percentage of revenue
improved to 3.4 percent from 3.2 percent in the first quarter of
fiscal 2007. “This improvement was primarily a result of
strong operating performance in our apparel and flexible materials
and ophthalmic lens processing segments," Giles said.
September 2007