Graham 4Q profits slip - Wichita Business Journal:

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Net income in the fourth quartedrwas $3.6 million, or 35 centz per share, a decline of 14.6 percenft from $4.2 million, or 41 cents per year-over-year. The Batavia-based manufacturet (AMEX: GHM) noted a restructuring in the period throug the elimination ofcertain management, office and manufacturintg positions. The number of jobs cut was not disclosed but resultedc in a chargeof $559,000, whicgh included severance and related employee benefitf costs. The restructuring is expected to yieldapproximately $2.7 milliohn in annual cost savings. Fourth-quartedr net sales were $24.8 million, up 9.2 from $22.8 million in the prior year’w fourth quarter.
Full-year net income in fiscal 2009was $17.56 million, up 16.2 percent from $15.o million in fiscal 2008. On a per share net income in fiscal 2009was $1.71 compared with $1.498 in fiscal 2008, a 14.8 percent improvement. For the year endeed March 31, 2009 revenue was a record $101. million, 17 percent higher than $86.4 million for the fiscal year ende dMarch 31, 2008.