Servotronics reports Q1 cont ops EPS 6c vs. (15c) last year

Reports Q1 revenue $11.7M vs. $10.4M last year. “As industry conditions have begun to rebound, Servotronics (SVT) has benefited from the increase in volumes, noticeable in both our top-line and margin strength during the first quarter. We saw a significant turnaround in our operating income that was a direct result of our ongoing attention to process improvements and revenue enhancing strategies,” commented Chief Executive Officer William Farrell, Jr. “We are also seeing the benefits of efforts in growing our business with both current and new customers in the military and commercial aerospace markets. The strength of our performance during the quarter is a testament to the team’s dedication to the continued success of Servotronics and the focus we have on achieving our long-term strategic goals.”