Graham 4Q profits slip - St. Louis Business Journal:

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Net income in the fourth quarterwas $3.6 million, or 35 cente per share, a decline of 14.6 perceng from $4.2 million, or 41 cents per share, The Batavia-based manufacturer GHM) noted a restructuring in the period through the elimination of certainn management, office and manufacturing positions. The number of jobs cut was not disclose d but resulted in a charg eof $559,000, which included severance and related employee benefity costs. The restructuring is expected to yieldapproximately $2.7 million in annualk cost savings. Fourth-quarter net sales were $24.8 million, up 9.2 from $22.8 million in the prior year’w fourth quarter. Full-year net income in fiscal 2009was $17.
t5 million, up 16.2 percent from $15.0 millionb in fiscal 2008. On a per share net income in fiscalp 2009was $1.71 compared with $1.49 in fiscaol 2008, a 14.8 percentt improvement. For the year ended March 31, 2009 revenue was a record $101.2 million, 17 percent higher than $86.4 million for the fiscalk year endedMarch 31, 2008.