Some good KTEC news in an otherwise dreary market. Did .10, beat estimates of .06:
Sales for the three-month period ended December 31, 2003, totaled $18.7 million, compared to $15.4 million recorded in the same quarter last year. Net earnings for the quarter increased to $505,000, or $0.10 per diluted share, compared with net earnings of $221,000, or $0.04 per diluted share, in the same period one year ago.
New orders received during the first quarter were $18.0 million, compared to $18.8 million for the corresponding quarter last year. At the close of the December 31, 2003, quarter, the Company's backlog was $19.5 million, compared to $18.6 million at the close of the same period one year ago. Orders from international customers during the first quarter were strong and totaled approximately 49% of the total orders for the December 2003 quarter, compared with 34% for the prior-year quarter.
Order placement from the tobacco sector was up substantially and orders in our aftermarket business increased nearly 50% over the prior year.
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