SIFCO Q4 Net Loss Narrows On Sales Growth

SIFCO Industries

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Kaufen / Verkaufen

(RTTNews) - SIFCO Industries, Inc. (SIF), a provider of forgings and machined components, Tuesday announced narrower net loss for the fourth quarter with higher sales.

For the quarter, the net loss narrowed to $0.44 million or $0.08 per share from loss of $3.10 million or $0.52 per share in the previous year.

Net loss from continuing operations was $1.88 million or $0.33 per share, compared to net loss of $3.22 million or $0.53 per share a year ago.

The adjusted EBITDA increased to $0.786 million from a loss of $1.27 million last year.

The net sales increased 14% to $21.66 million from $19.02 million a year ago.

Looking ahead, CEO George Scherff said, "...we are encouraged by the continued demand for our solutions, as evidenced by the growth in our customer backlog to $114.4 million at the end of fiscal 2024. In response, we have increased production in support of our customers' needs for the upcoming year and beyond."

Monday, SIF had closed 18.75% less at $3.25 on the NYSE American. In the after-hours trading, SIF is further 0.62% down at $3.23.

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