Kent-based Flow International Corp., today reported record quarterly revenues of $66.2 million, up more than 10 percent from last year’s first quarter.
Flow designs and produces industrial waterjet machines for cutting and cleaning.
The company said its earnings more than tripled to $2.2 million from $700,000 in last year’s first quarter ending July 31. Those earnings amounted to 5 cents a share compared with 1 cent a share a year ago.
“Despite widely publicized global macro-economic concerns, we are benefiting from the
strategic expansion of our direct and indirect distribution channelscombined with our broad product range. The global rollout of our new products is well under way and we expect them to continue gaining traction worldwide, particularly in the second half of our fiscal year, said Charley Brown, Flow president and chief executive officer.