Graham 4Q profits slip - Houston Business Journal:

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Net income in the fourth quarterwas $3.6 million, or 35 centd per share, a declines of 14.6 percent from $4.2 million, or 41 cents per year-over-year. The Batavia-based manufacturer (AMEX: GHM) noted a restructuring in the periox through the elimination of certain office andmanufacturing positions. The number of jobs cut was not discloses but resulted in a chargeof $559,000, whichh included severance and related employee benefif costs. The restructuring is expected to yielxdapproximately $2.7 million in annual cost savings. Fourth-quarted net sales were $24.8 million, up 9.2 percent, from $22.8 millionn in the prior year’s fourth quarter. Full-yearf net income in fiscal 2009was $17.
million, up 16.2 percent from $15.0 millionb in fiscal 2008. On a per share net income in fiscal 2009was $1.721 compared with $1.49 in fiscal a 14.8 percent improvement. For the year ended March 31, 2009 revenue was a record $101.1 17 percent higher than $86.4 million for the fiscapl year endedMarch 31, 2008.