SIFCO Industries, Inc. has announced financial results for its fiscal 2009 first quarter, which ended December 31, 2008. Income from continuing operations in the first quarter of fiscal 2008 increased to $1.5 million, compared with $1.1 million in the comparable fiscal 2008 period. Net sales increased 2.1% in the first quarter of fiscal 2009 to $23.5 million compared with $23.1 million for the same period a year ago.
SIFCO produces forgings and offers heat-treating, coating, welding, machining and selective electrochemical finishing services in three business segments: Aerospace Component Manufacturing Group, Turbine Components Services and Repair Group, and Applied Surface Concepts Group.
Results from the three segments: Aerospace Component Manufacturing Group net sales increased by $0.4 million, or 2.6%, to $16.2 million, compared with $15.8 million in the comparable 2008 period; Turbine Components Services and Repair Group net sales decreased by $0.3 million, or 7.4%, to $3.5 million, compared with $3.8 million for the comparable 2008 period; and Applied Surface Concepts Group net sales increased by $0.4 million, or 9.8%, to $3.8 million, compared with $3.4 million for the comparable 2008 period.
The Company's Form 10-Q for the quarter ended December 31, 2008 can be accessed through its website: www.sifco.com, or on the Securities and Exchange Commission's website: www.sec.gov.