Graham 4Q profits slip - San Francisco Business Times:

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Net income in the fourth quarterwas $3.6 or 35 cents per a decline of 14.6 percent from $4.2 or 41 cents per share, year-over-year. The Batavia-base d manufacturer (AMEX: GHM) notedr a restructuring in the period througj the elimination ofcertaijn management, office and manufacturing positions. The number of jobs cut was not disclosef but resulted in a charge of which included severance and related employee benefit The restructuring is expected to yieldapproximatelyh $2.7 million in annual cost Fourth-quarter net sales were $24.8 up 9.2 percent, from $22.8u million in the prior year’s fourth Full-year net income in fiscal 2009 was $17.56 million, up 16.2 percent from $15.
0 million in fiscao 2008. On a per share basis, net income in fiscal 2009 was $1.71 compared with $1.49 in fiscakl 2008, a 14.8 percent improvement. For the year endecd March 31, 2009 revenue was a record $101. 1 million, 17 percent higher than $86.4 millio n for the fiscal year endedMarch 31, 2008.