With all the negative financial news, it's nice to be able to find a small company filling a need and not going broke trying to do it. Gerber Scientific Inc. (NYSE: GRB) manufactures eyeglass lens equipment, and a variety of flexible materials, including Spandex, for a variety of uses. With the recent introduction of its Solara ion low temperature UV inkjet printer, Gerber Scientific has moved into manufacturing and printing on flexible materials suitable for large-scale outdoor advertising banners and signage. The move seems to be working. The company recently reported positive 4Q and FY 2008 results.
4Q 2008 net income increased 9% to $6.1 million or $0.26 per share on revenues of $173.7 million. FY 2008 net income increased to $14.5 million or $0.61 per share on revenues of $640 million. These numbers were high enough for investors to bid up the stock 5% to close at just under $12. The stock's 52 week high is $12.64. Gerber Scientific CEO Marc Giles believes that FY 2009 numbers will be even better. The company is looking for big growth in its Spandex distribution business, particularly in Asian markets. Also, Giles expects many businesses to take advantage of additional outdoor advertising possibilities with the new Solara ion printer system.
Gerber Scientific (GRB): a spot of economic color
Posted Jun 26th 2008 12:15PM by Victoria Erhart
Filed under: Earnings reports, Good news, Press releases, Competitive strategy
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