SIFCO Industries, Inc. announced its financial results for the fourth quarter and full fiscal year ended September 30, 2024. For the full fiscal year, net sales increased to $79.633 million from $66.067 million in fiscal 2023, representing a 20.5% year-over-year increase.
The company reported a net loss of $5.383 million for fiscal 2024, or $(0.90) per diluted share, compared to a net loss of $8.692 million, or $(1.47) per diluted share, in fiscal 2023. Loss from continuing operations for the year was $8.626 million.
SIFCO's backlog grew to $114.4 million at the end of fiscal 2024, indicating strong demand in the commercial space and aerospace markets. CEO George Scherff noted increased production to support customer needs for the upcoming year.
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