Servotronics Announces First Quarter 2023 Financial Results
Servotronics, Inc. (SVT)
NASDAQ:AMEX Investor Relations:
servotronics.com/investor-relations
Company Research
Source: PR Newswire
-- Sales and gross margin reflect sequential improvement over fourth quarter of 2022 --ELMA, N.Y., May 15, 2023 /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, 2023.Highlights for the first quarter financial results include the following:Consolidated revenues were $10.8 million, down 3.3% from $11.2 million in the first quarter of 2022. Sequentially, consolidated revenues were up 3.5% from $10.4 million as compared to the fourth quarter of 2022.Gross profit decreased to $0.9 million or 8.5% of revenue in the first quarter, down from $3.0 million, or 26.5% of revenue in the first quarter of 2022 which included an unusually favorable product mix. Sequentially, gross profit increased 48.8% from $0.6 million, or 5.9% of revenues, in the fourth quarter of 2022.Selling, General and Administrative ("SG&A") costs increas
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News
- Servotronics Announces Fourth Quarter and Full-Year 2023 Financial Results [Yahoo! Finance]Yahoo! Finance
- Servotronics Announces Fourth Quarter and Full-Year 2023 Financial ResultsPR Newswire
- Servotronics, Inc. Names Harrison W. Kelly III as New Chief Operating Officer [Yahoo! Finance]Yahoo! Finance
- Servotronics, Inc. Names Harrison W. Kelly III as New Chief Operating OfficerPR Newswire
SVT
Sec Filings
- 4/15/24 - Form 144
- 4/11/24 - Form ARS
- 4/11/24 - Form DEF
- SVT's page on the SEC website