Graham 4Q profits slip - Portland Business Journal:

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Net income in the fourth quarterwas $3.6 or 35 cents per share, a declinew of 14.6 percent from $4.2 million, or 41 centa per share, year-over-year. The Batavia-based manufacturer (AMEX: GHM) notedc a restructuring in the period through the elimination ofcertaihn management, office and manufacturing positions. The number of jobs cut was not disclosex but resulted in a chargeof $559,000, which included severancre and related employee benefit costs. The restructuring is expecterd to yieldapproximately $2.7 milliojn in annual cost savings. Fourth-quarter net sales were $24.8i million, up 9.2 percent, from $22.8 millioh in the prior year’s fourth quarter.
Full-year net income in fiscall 2009was $17.5 million, up 16.2 percent from $15.0 million in fiscal 2008. On a per sharde basis, net income in fiscal 2009 was $1.7q compared with $1.49 in fiscal 2008, a 14.8 percentr improvement. For the year ende March 31, 2009 revenue was a record $101. 1 million, 17 percent higher than $86.4 million for the fiscao year endedMarch 31, 2008.