- May 26, 2005, pffc-online.com
GRANDVILLE, MI—X-Rite announced its financial results for the fourth quarter and fiscal year 2004. Highlights inlcude:
- Record fourth quarter and full-year sales revenues of $38.8 million and $126.2 million, respectively.
- Tenth consecutive quarter of year-over-year sales growth.
- Operating income doubled vs. prior year Q4.
- Twenty new products launched during fiscal 2004.
- Sales from new products increased to 36.7% of total revenues.
For the fiscal year ended January 1, 2005, total revenue was up 7.8% with gross margins at 64.4% versus 63.8% the previous year. Operating income for the fiscal year was $15.8 million, an 81.2% increase over 2003. Net income for the fiscal year 2004 was $12.4 million —or 59¢ per diluted share—versus a net income of $5.5 million—or 27¢ per diluted share—in 2003.
For more information, visit xrite.com.