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.
Solara ion printer posts
FeedGerber Scientific (GRB): a spot of economic color
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) unveils new super printer
Just in time for the presidential debating season, and the accompanying protests, Gerber Scientific Inc. (NYSE: GRB) is unveiling a new super printer, the Solara Ion, capable of printing high-quality, dry-upon-contact, wide-format posters, banners, and jumbo-sized wall hangings. (Think "Mission Accomplished.") The flatbed platform printer can accommodate flexible as well as rigid materials up to 1 inch thick, 5 feet wide and 10 feet long. The printer has output capacity of 639 square feet per hour and uses a patented low temperature, low energy printing process.
Gerber Scientific produces manufacturing systems for mass customizations. The company is hoping that sales of this printer will help boost profits, which were flat in the company's recently released 1Q FY 2008 earnings report. Operating income was $4.4 million on $153.7 million worth of revenue. The year previous, the company also posted operating income of $4.4 million on $137.5 million worth of revenue. $16 million more in revenue and not a penny more in profits? Sounds like it's time to hold management's feet to the fire.
CEO Marc Giles believes Gerber is on the right track. Revenues are up, sales volume is up. Giles pointed to the introduction of the new printer as well as Gerber's expansion into the specialty graphics market in China as positive signs. Revenue and order volume as well as equipment orders are up 62% in China. In the near future, Gerber needs to transform these increases into the all important increase in profits.
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