Net Sales Increase 15 Percent for the Year
PITTSBURGH, Feb. 26 /PRNewswire-FirstCall/ -- MSA (NYSE: MSA) today announced that net sales for the year ended December 31, 2008 were $1,134.3 million compared with $990.3 million in 2007, an increase of $144.0 million, or 15 percent. Net income for the year ended December 31, 2008 was $70.4 million, or $1.98 per basic share, an increase of $2.8 million, or 4 percent, compared with $67.6 million, or $1.89 per basic share, for 2007. Net income in 2007 benefited from a $7.7 million after-tax gain on the sale of real estate, providing a gain of $0.22 per basic share.
Net sales for the fourth quarter of 2008 were $288.8 million compared with $267.5 million for the fourth quarter of 2007, an increase of $21.3 million, or 8 percent. Net income for the fourth quarter of 2008 was $16.5 million, or 46 cents per basic share, a decrease of $1.0 million, or 5 percent, compared with $17.5 million, or 49 cents per basic share, for the same quarter last year.
"I am pleased to report the highest fourth quarter and full year sales in MSA's history," said William M. Lambert, MSA President and CEO. "Our revenue performance in the fourth quarter was especially satisfying considering the current economic environment. This growth in revenue reflects strong shipments against government contracts, the diversified nature of our end-user markets and our continuing focus on expanding our geographic presence," he said.
Sales in the company's North American segment increased $29.4 million, or 23 percent, in the fourth quarter of 2008. Self-contained breathing apparatus (SCBA) sales were up $28.9 million in the current quarter, primarily due to $28.0 million in shipments of Firehawk(R) M7 Responder SCBAs to the U.S. Air Force. Fourth quarter 2008 sales of ballistic helm
Copyright©2009 PR Newswire.
All rights reserved