Standex International Corp (SXI) has announced its financial results for the second quarter, indicating a notable decline in profitability compared to the previous year. The company's net income dropped to $1.3 million, or $0.07 per share, from last year's $19.1 million, or $1.61 per share.
However, when excluding certain items, Standex International Corp recorded an adjusted net income of $22.9 million, or $1.91 per share, for this period.
On a more positive note, the company experienced a 6.4% increase in revenue, which rose to $189.8 million from the previous year's $178.4 million.
For a brief summary in accordance with Generally Accepted Accounting Principles (GAAP):
- Net Income: $1.3 million, down from $19.1 million last year.
- Earnings Per Share (EPS): $0.07, compared to $1.61 in the previous year.
- Revenue: Increased to $189.8 million from $178.4 million last year.
