Flow International reports profitable fourth-quarter earnings

Flow International Corporation (Nasdaq:FLOW) announced ahead of the opening bell today its fourth-quarter revenues had increased 21%. For the quarter ended April 30, the Kent, Wash.-based company reported net income of $13.3 million, or $0.35 per share, compared with a net loss of $3.2 million, or $0.09 a share, for the same quarter a year ago. Wall Street had been expecting net income of about $0.14 per share. Revenues grew to $63.3 million, up from $52.3 million a year earlier; fourth-quarter revenues fell below analyst expectations of $65.2 million. Flow International, which manufactures high-pressure water pumps and systems, said the profitable quarter was the result of growing global demand for waterjets and a balancing of the company’s portfolio. In pre-market trading today, shares of Flow International are mostly flat, down just 0.88% at $7.90.

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