Flow International Announces Q1 Results

Flow International Corporation FLOW today reported results for its fiscal 2011 first quarter ended July 31, 2010. For the fiscal 2011 first quarter, Flow reported consolidated revenues of $46.6 million, a 23% increase from $37.8 million in the prior-year period. Net loss in the current quarter was $0.5 million or $0.01 per share. In comparison, the Company reported a net loss of $8.5 million in the prior-year period. The first quarter of fiscal 2011 and 2010 included non-recurring charges. Excluding the impact of a non-recurring tax charge, net income for the current quarter would have been $0.1 million or $0.00 per share. Similarly, excluding non-recurring charges totaling $6.2 million and the related tax effects, the net loss in the prior-year period would have been $2.7 million or $0.07 per share.