Bolt Technology Reports Third Quarter Results

Bolt Technology Corporation BOLT today announced financial results for the third quarter and the first nine months of fiscal year 2011. These financial results for the third quarter and the first nine months of fiscal year 2011 include SeaBotix, Inc., which was acquired by Bolt as of January 1, 2011. Sales for the third quarter of fiscal 2011, the three months ended March 31, 2011, increased 59% to $9,381,000 compared to $5,897,000 for the third quarter last fiscal year. Net income for the quarter increased 51% to $1,027,000 ($0.12 per share) compared to $681,000 ($0.08 per share) for the third quarter last fiscal year. Sales for the nine months ended March 31, 2011 increased 30% to $28,039,000 compared to $21,605,000 for the same nine-month period in fiscal year 2010. Net income for the nine-month period increased 25% to $4,141,000 ($0.49 per share) compared to $3,320,000 ($0.39 per share) in last fiscal year's first nine months.