Perceptron swings to Q4 profit
Perceptron, Inc. (Nasdaq: PRCP), a maker of manufacturing equipment for measurement and inspection, today announced it swung to a profit in the fourth quarter.
For the three months ended June 30, the company recorded net income of $2.3 million, or $0.26 a share, up 89% from a loss of $0.27 million, or $0.03 a share, in the equivalent period of 2006. Analysts were expecting earnings of $0.16 per share.
Net sales were $23.4 million, compared with $14.5 million in the year-ago period, and above Wall Street estimates of $18 million.
"Operating results for the fourth quarter, and for the fiscal year as a whole, were considerably better than we expected when we began the quarter and the fourth quarter's revenue was, in fact, a record for any quarter in our history,” CEO Alfred Pease said in a statement. “The sales improvement was primarily due to acceleration in the timing of customer delivery schedules.”
The Plymouth, Mich.-based company’s fiscal year 2007 net income was $1.5 million, or $0.17 per share, compared to $3.2 million, or $0.35 per share, in the year-ago.
Perceptron shares are up 12.5%, or $1.30, at $11.70. Over the last 52 weeks, shares have ranged between $7.77 and $11.88.
