MSA Reports Q4 EPS of $0.50 vs. $0.38

MSA

today announced that net sales for the year ended December 31, 2010 were $977 million compared with $910 million in 2009, an increase of $67 million, or 7 percent. Net income for the year ended December 31, 2010 was $38 million, or $1.06 per basic share, a decrease of $5 million, or 12 percent, compared with $43 million, or $1.21 per basic share, for 2009. Excluding after-tax costs of $6 million associated with the October acquisition of General Monitors, and restructuring charges of $10 million, annual net income was $54 million or $1.51 per basic share. Net sales for the fourth quarter of 2010 were $285 million compared with $236 million for the same period of 2009, an increase of $49 million, or 21 percent, with organic sales increasing $33 million, or 14 percent. Net income for the fourth quarter of 2010 was $12 million, or 33 cents per basic share, a decrease of $1 million, or 8 percent, compared with $13 million, or 35 cents per basic share, for the same quarter last year. Excluding after-tax costs of $4 million associated with the acquisition of General Monitors, and $2 million of restructuring charges, net income was $18 million, or 50 cents per basic share for the quarter.