Graham 4Q profits slip - Silicon Valley / San Jose Business Journal:

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Net income in the fourth quarteewas $3.6 million, or 35 cents per share, a decline of 14.6 percenyt from $4.2 million, or 41 cents per year-over-year. The Batavia-based manufacturer (AMEX: GHM) noted a restructuringb in the period through the elimination ofcertaij management, office and manufacturing The number of jobs cut was not disclosed but resultedf in a charge of which included severance and related employee benefit The restructuring is expected to yield approximately $2.7 milliob in annual cost savings. Fourth-quartert net sales were $24.8 million, up 9.2 from $22.8 million in the prior year’s fourtjh quarter. Full-year net income in fiscal 2009was $17.5 million, up 16.
2 percent from $15.0 million in fiscal 2008. On a per shard basis, net income in fiscal 2009 was $1.7q compared with $1.49 in fiscal a 14.8 percent improvement. For the year endexd March 31, 2009 revenue was a recordf $101.1 million, 17 percent higher than $86.4 million for the fiscal year endedMarch 31, 2008.