Gerber Scientific Inc. said growing China demand for its products and cost-cutting, including its headquarters move, were reflected in a fiscal third-quarter profit and strong sales.
The maker of technology equipment and software earned $1.7 million, or 7 cents a share, in the quarter ended Jan. 31. That’s in contrast to a loss of $809,000, or 3 cents a share, the same three-month period in 2010.
Third-quarter revenues rose 13 percent to $112 million from $99.2 million a year earlier.
Wall Street reacted strongly to Gerber’s earnings news, driving its stock up $1.35, or 17.2 percent, to $9.18 in late morning trading.
“This was a solid performance quarter for Gerber, with revenue gains across all product segments and geographic regions,” CEO Marc Giles said.
While market demand remained strong in its apparel- and industrial-machinery and services segments, Giles pointed out that China revenue, including exports, rose 68 percent in the third quarter.
China, in particular, has been a concerted focus for Gerber’s sales expansion. It also has undertaken some restructuring steps, including the recent sale of its Gerber Coburn eyeglass lens-equipment business.
The company also moved its former South Windsor corporate headquarters to Tolland, where it had excess office space in a building that also houses some of its production.
