Flow International Beats on Top and Bottom Lines (FLOW)

Flow International Corp. FLOW reports Q2 EPS of $0.00 versus estimates of $0.03 loss. Flow International Corp. reports revenues of $46.6 million versus estimates of $44.38 million. Revenues increased by 23.4% year over year. Aggregate gross margins were 42% for the quarter, compared to gross margin of 37% in the fiscal 2010 first quarter. "We are pleased with the improvement in revenues from our Standard segment as sales continued to increase sequentially over the last few quarters in most of our major regions," said Charley Brown, President and CEO of Flow. "This growth demonstrates that our new indirect channel of distribution is beginning to bear fruit. More importantly, at these revenue levels, we have now generated our second consecutive quarter of operating profit." Shares of FLOW did not trade in the after-hours as of the time of this writing.