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Stock impact report

Servotronics Announces First Quarter 2022 Financial Results Including EPS of $0.13 and Significant Growth in Revenue, Gross Margin and Operating Income

Servotronics, Inc. (SVT) 
NASDAQ:AMEX Investor Relations: servotronics.com/investor-relations
Company Research Source: PR Newswire
-- Revenue growth expected to continue in the second quarter of 2022 driven by increasing order volume from Servotronics' Advanced Technology Group --ELMA, N.Y., May 16, 2022 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products today reported financial results for the first quarter ended March 31, 2022, including significant growth in revenue, gross margin and operating income.The company reported first quarter 2022 net income of $325,000, or $0.13 per diluted share. First quarter 2021 net income of $541,000, or $0.22 per diluted share, included a $1.4 million or $0.56 per share contribution to earnings from employee retention credits."Servotronics' first quarter results reflect the initial benefits of two years of incredible work by our talented workforce, to ensure this company would be ready to rapidly respond to a recovery in customer orders," said Chief Executive Officer William F. Show less Read more
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