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Sifco Industries Inc (SIF) SEC Filing 10-Q Quarterly report for the period ending Sunday, December 31, 2017

Sifco Industries Inc

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CIK: 1534287 Ticker: SIF


SIFCO Industries, Inc. (“SIFCO”) Announces
First Quarter Fiscal 2018 Financial Results

Cleveland - SIFCO Industries, Inc. (NYSE American: SIF) today announced financial results for its first quarter of fiscal 2018, which ended December 31, 2017.
Fiscal Year
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Net sales in the first quarter of fiscal 2018 decreased 23.0% to $24.3 million, compared with $31.5 million in fiscal 2017.
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Net loss for the first quarter of fiscal 2018 was $0.9 million, or $(0.17) per diluted share, compared with net loss of $2.6 million, or $(0.48) per diluted share, in the first quarter of fiscal 2017.
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EBITDA was $1.5 million in the first quarter of fiscal 2018 compared with $0.9 million in the first quarter of fiscal 2017.
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Adjusted EBITDA in the first quarter of fiscal 2018 was a slight loss compared with Adjusted EBITDA of $2.0 million in the first quarter of fiscal 2017.

CEO Peter W. Knapper stated, "The primary components of our rationalization are now in place. While our first quarter revenue was impacted by a planned refurbishment of a major piece of equipment at our Italy location, the work was successfully completed, and the equipment was returned to service in late December, with excellent results. Further, we were able to improve EBITDA as compared to the same quarter last year, even with significantly lower revenue, reflecting the benefits of improved operating efficiencies demonstrated by our team. As we move forward, we are excited to be able to focus all our efforts on utilizing our new structure to serve our customers and stakeholders."

Use of Non-GAAP Financial Measures
The Company uses certain non-GAAP measures in this release. EBITDA and Adjusted EBITDA are non-GAAP financial measures and are intended to serve as supplements to results provided in accordance with accounting principles generally accepted in the United States. SIFCO Industries, Inc. believes that such information provides an additional measurement and consistent historical comparison of the Company’s performance. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures is available in this news release.

Forward-Looking Language
Certain statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions, competition and other uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings.

The Company's Form 10-K for the year ended September 30, 2017 can be accessed through its website: www.sifco.com, or on the Securities and Exchange Commission's website: www.sec.gov.

SIFCO Industries, Inc. is engaged in the production of forgings and machined components primarily for the aerospace and energy markets. The processes and services include forging, heat-treating, coating, and machining.


The following information was filed by Sifco Industries Inc (SIF) on Thursday, February 8, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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SEC Filing Tools
Ticker: SIF
CIK: 90168
Form Type: 10-Q Quarterly Report
Accession Number: 0000090168-18-000007
Submitted to the SEC: Thu Feb 08 2018 3:59:53 PM EST
Accepted by the SEC: Thu Feb 08 2018
Period: Sunday, December 31, 2017
Industry: Aircraft Engines And Engine Parts

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