Hawkins, Inc. reported net income of $5.5 million, or $0.54 per diluted share, in the fourth quarter of fiscal 2010. The company earned net income of $5.1 million, or $0.50 per diluted share, in the same period in fiscal 2009.
Hawkins, Inc. reported net income of $23.8 million, or $2.32 per diluted share, in fiscal 2010, approximately flat with fiscal 2009. Gross margin increased on a year over year basis, from 22% in fiscal 2009 to 25.1% in fiscal 2010.
Hawkins, Inc. reported revenues of $57.9 million in the fourth quarter of fiscal 2010, compared to revenues of $67.8 million in the fourth quarter of fiscal 2009. Revenues also declined in fiscal 2010, with reported revenues at $257.1 million, compared to $284.4 million in fiscal 2009.
The decline in revenues in fiscal 2010 was caused mainly by the performance of the company’s Industrial segment, which saw revenues fall by 13%, from $201.6 million in fiscal 2009 to $174.9 million in fiscal 2010. Revenues in the Water Treatment segment were approximately flat in fiscal 2010 at $82 million.
John R. Hawkins, the CEO of Hawkins, Inc., said “We were able to match fiscal 2009 profitability levels due to continued growth in our Water Treatment business. The Water Treatment Group’s unique route sales business model, which provides a high level of service to our customers, has continued to serve as a growth engine for us. We intend to continue to invest to grow our market share in current and new territories for this group.”
For more information on the company, go to www.hawkinsinc.com