Gorman-Rupp Reports Third Quarter EPS of $.37

The Gorman-Rupp Company GRC reports net sales and earnings for the third quarter and nine months ended September 30, 2010. Net sales during the third quarter ended September 30, 2010 increased 15.4% to $73,953,000 compared to $64,096,000 during the same period in 2009. Net income increased 18.9% to $6,155,000 compared to $5,177,000 in the third quarter 2009. Earnings per share were $0.37 and $0.31 for the respective periods. Net sales for the nine months ended September 30, 2010 increased 4.0% to $212,119,000 compared to $204,039,000 during the same period in 2009. Net income increased 12.1% to $16,308,000 compared to $14,550,000 in the first nine months of 2009. Earnings per share, respectively, were $0.98 and $0.87 for the two periods.