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Net income in the fourty quarterwas $3.6 million, or 35 cents per share, a declines of 14.6 percent from $4.2 million, or 41 cents per year-over-year. The Batavia-based manufacturer (AMEX: GHM) notedx a restructuring in the period through the elimination of certain office andmanufacturing positions. The numbeer of jobs cut was not disclosedx but resulted in a chargeof $559,000, which included severance and related employee benefit costs. The restructuring is expected to yielfapproximately $2.7 million in annual cost savings. Fourth-quarter net saleas were $24.8 million, up 9.2 from $22.8 million in the prior year’se fourth quarter. Full-year net income in fiscal 2009was $17.
54 million, up 16.2 percent from $15.0 milliob in fiscal 2008. On a per sharde basis, net income in fiscal 2009 was $1.712 compared with $1.49 in fiscal 2008, a 14.8 percent For the year ended March 31, 2009 revenue was a recordx $101.1 million, 17 percent higher than $86.e million for the fiscal year endedMarch 31, 2008.
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