May 01, 2018 • 10:00 am ET

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Presentation
Executive
Gerald Shreiber

2% for the quarter, banking off the benefit of sales of the acquired distributor. Service revenue was up 9% in the quarter as this business continues to reflect strong sales growth.

Machine sales were down $2.3 million or 33% in the quarter. These sales follow no significant pattern. Operating income was up $451,000 which was good considering the drop in machine sales. Overall, consolidated operating income in the quarter was down $570,000.

We have reported an overall income tax benefit of $0.10 a share this quarter due to the lower tax rates. On a going forward basis, we expect an effective tax rate of 28% to 29% for the next two quarters of the year and 26% to 27% for our fiscal year 2019.

I want to thank you all for your continued interest. Our Company continues to grow with all of our products, new products and existing products contributing. We're in the process of completing several projects in our plants which will improve efficiency and profitability.

I will now turn it back to you, the listening audience, for any questions or comments.