WEST WARWICK – In the year ended Jan. 31, Astro-Med Inc.’s profit more than doubled to $6.06 million or 82 cents per diluted share from the previous fiscal year’s $2.55 million or 35 cents per diluted share, according to the company’s report last night.
Astro-Med’s sales rose 10.5 percent to a record $65.52 million from the year-ago $59.30 million.
Net income for the year includes an after-tax expense of $358,000 for stock-based compensation that was partially offset by $231,000 adjustments in the prior-year tax return. Income for the previous fiscal year includes a tax-related credit of $361,000.
“Sales in the [fourth] quarter were at a record level of $17.568 million, up 9.8 percent from the prior year,” noted CEO Albert W. Ondis. “… All the Company’s product groups reported growth over the previous year. Domestic sales were especially strong at $47.504 million, up 14.7 percent.”
“Our balance sheet remains solid,” Ondis added, “with a current ratio of 4.5 to 1; $20.130 million in cash and marketable securities; no debt; and a current-year 22.0-percent return on shareholders’ equity excluding cash and marketable securities.”
On March 7, the company’s board of directors declared a quarterly cash dividend of 5 cents per share, payable April 2 to shareholders of record on March 23.
Astro-Med Inc. (Nasdaq: ALOT) is a maker of specialty printing, testing and measurement systems for industrial, scientific and medical applications. Additional information is available at www.astro-medinc.com.
