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Edac ratchets up 1Q profits 13 percent


Post Date: 10 May 2011    Viewed: 445

Strong sales of machine tools and aerospace parts pushed fiscal first-quarter net profits up 13 percent for Farmington manufacturer Edac Technologies Corp.


Edac earned $408,000, or 8 cents a share, in the three months ended April 2, up from $360,000, or 7 cents, earned the comparable 2010 period.


First-quarter sales rose to $20.2 million from $17.8 million last year.


Edac said its first quarter sales reflected substantial growth in each of its three major product lines: Edac Aero, APEX Machine Tool and Edac Machinery. Order backlog continued to swell.


 


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