Flow International Announces Third Quarter Results

Flow International Corporation FLOW, the world's leading developer and manufacturer of industrial waterjet machines for cutting and cleaning applications, today reported results for its fiscal 2011 third quarter ended January 31, 2011. For the third quarter of fiscal 2011, Flow reported consolidated revenues of $57.5 million, a 27% increase from $45.4 million in the prior-year period. Net income in the current quarter was $1.2 million or $0.03 per share. In comparison, the Company reported net loss of $0.7 million or a loss of $0.02 per share in the prior-year period, which included a non-cash charge of $1.3 million for foreign currency adjustments primarily related to the liquidation of two dormant subsidiaries.