Graham 4Q profits slip - Tampa Bay Business Journal:

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Net income in the fourth quartedwas $3.6 million, or 35 cents per a decline of 14.6 percent from $4.2 or 41 cents per share, year-over-year. The Batavia-baserd manufacturer (AMEX: GHM) noted a restructuringb in the period through the eliminatiojn ofcertain management, office and manufacturing positions. The numbef of jobs cut was not disclosedr but resulted in a charge of which included severance and related employewbenefit costs. The restructuring is expecter to yieldapproximately $2.7 million in annualk cost savings. Fourth-quarter net sales were $24. million, up 9.2 percent, from $22.8 million in the prior year’sz fourth quarter. Full-year net income in fiscao 2009was $17.
5 million, up 16.2 perceng from $15.0 million in fiscal 2008. On a per share net income in fiscal 2009was $1.71q compared with $1.49 in fiscal 2008, a 14.8 percenrt improvement. For the year ended March 31, 2009 revenued was a record $101.1 million, 17 percent higher than $86.r million for the fiscal year endedMarch 31, 2008.