Flow International Corp. reported consolidated revenue of $65.8 million for the third quarter of fiscal year 2012, a 15 percent increase from $57.5 million during the prior fiscal year. Net income for the current quarter was $3.3 million, or 7 cents per share, compared to $1.2 million, or 3 cent per share, for the prior year period.
Adjusted EBITDA for the quarter was $8.1 million, or 12.3 percent of sales, compared to $4.9 million in the year-ago quarter.
“This marks our sixth sequential quarter of increased sales and a new quarterly record for Flow,” said Charley Brown, president and CEO. “We also generated operating income in excess of 9 percent of sales, which represents our highest level of profitability in almost four years.”
Kent-based Flow is develops and manufactures industrial waterjet machines for cutting and cleaning applications used in the automotive, aerospace, job shop and surface preparation industries.