On August 31, 2010, Baldwin Technology reported 4Q (ended June 30, 2010) earnings of $0.09 per share on revenue of $37.4 million. Excluding non-recurring items, mainly a $2.96 million gain on a purchase, the company incurred a 4Q loss of ($0.05) per share.
We projected 4Q earnings of $0.07 per share on revenue of $43.5 million.
In the year-earlier quarter, the company earned $0.02 per share on revenue of $39.5 million.
For the full year, Baldwin earned $0.32 per share on revenue of $151.8 million. In FY2009, the company reported a loss of ($0.77) per share on revenue of $176.6 million.
Excluding non-recurring items, mainly a litigation settlement gain of $9.3 million and a $2.96 million gain on a purchase, Baldwin incurred a FY2010 loss of ($0.16) per share. Excluding non-recurring items, Baldwin earned $0.04 a share for FY2009.
On August 12, 2010, Baldwin Techology announced a €1 Million order from Neue Zürcher Zeitung (Switzerland), a German language newspaper publisher, for the retrofitting of a blanket cleaning system to be installed as a retrofit by the end of 2010.
In a July 7, 2010 filing with the SEC, Baldwin reported a restructuring plan aimed at achieving operational efficiencies in Germany through personnel reductions.
The costs associated with the restructuring plan, consisting entirely of of approximately $540,000 in personnel costs, were charged to 4QFY10. Baldwin expects these costs to be paid in cash during FY2011. No non-cash charges are contemplated under the plan, which is expected to result in annual savings of $480,000.
On July 1, 2010, Baldwin Technology announced that it concluded the acquisition of Nordson UV Ltd. from Ohio-based Nordson Corporation. Nordson UV, which will be renamed Baldwin UV, provides UV (ultra-violet) curing systems, a line of parts and consumables (ultraviolet lamps) to the graphic arts market.