Gorman-Rupp’s net income during the second quarter of 2008 was up 20.8 percent from $6,538,000 in the second quarter of 2007 to $7,895,000. Net sales were also up 5.5 percent over the previous years’ second quarter mark of $79,647,000 to $84,031,000. Earnings per share for the quarter were up 8 cents a share from $0.39 in 2007 to $0.47 in 2008. Net income for 2008 increased 29.4 percent for Gorman-Rupp to $15,047,000 from the 2007 second quarter mark of 11,630,000. Net sales increased to $165,465,000 for the second quarter compared to $154,108,000 from the same period in 2007. Earnings per share from the 2007 second quarter mark increased from $0.69 to $0.90 for the second quarter in 2008. The company attributes their gains to both continued increases in international sales, and help from a subsidiary of the company, Patterson Pump Company’s increased revenues from the sale of fire protection pumps and fabricated components.
Gorman-Rupp reports record second quarter net income
Jul 29, 2008