Rocky Hill-based Axsys Technologies Inc. posted a 37 percent rise in quarterly profit, topping market estimates, helped by sales growth at both its business segments, according to Reuters.
The company, which develops high-performance surveillance cameras and imaging systems for the aerospace and defense industries, earned $7 million, or 61 cents a share, compared with $5.1 million, or 45 cents a share, a year ago.
Sales for the first quarter ended March 28 rose 18 percent to $66.6 million.
Surveillance systems group’s sales rose 17 percent, while imaging systems group’s sales jumped 19 percent.
The company, which put itself up for sale in March, said it was confident of achieving the financial projections for 2009, given the quarter’s performance and its backlog, which rose 3 percent to $162.1 million year-over-year.
In February, the company had forecast full-year 2009 earnings of $2.66 to $2.72 a share, on sales of $278 million to $282 million.
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