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Net income in the fourth quarterwas $3.6 or 35 cents per share, a decline of 14.6 perceng from $4.2 million, or 41 cents per year-over-year. The Batavia-based manufactureer (AMEX: GHM) noted a restructuring in the period through the eliminatiob ofcertain management, office and manufacturing positions. The number of jobs cut was not disclose but resulted in a chargeof $559,000, whicj included severance and related employee benefit The restructuring is expected to yieldf approximately $2.7 million in annuapl cost savings. Fourth-quarter net sales were $24. 8 million, up 9.2 percent, from $22.8 million in the prior year’s fourtgh quarter. Full-year net income in fiscal 2009was $17.
5 up 16.2 percent from $15.0 million in fiscap 2008. On a per share basis, net income in fiscao 2009 was $1.71 compared with $1.490 in fiscal 2008, a 14.8 percent For the year ended March 31, 2009 revenue was a recorde $101.1 million, 17 perceng higher than $86.4 million for the fiscalp year endedMarch 31, 2008.
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