Standex International Q2 Profit Increases

(RTTNews) - Standex International Corp. (SXI) Tuesday announced an increase in second quarter net income to $12.371 million from $11.184 million last year. On a per share basis, earnings climbed to $0.96 from $0.87 a year ago. Adjusted earnings per share was $1.02.

On average, 4 analysts polled by Thomson Reuters expected the company to earn $1 per share. Analysts estimates usually exclude special items.

Net sales for the quarter declined 3.9 percent to $181.95 million from $189.34 million in the previous year. Organic sales were down 2.4 percent, while foreign exchange had a negative impact on sales by 2.5 percent. Wall Street was looking for $185.33 million.

Looking ahead, the company said it will continue to exercise caution around currency expectations, the oil and gas markets and regional economic conditions.