OREM — Mity Enterprises Inc. on Wednesday reported net income of $876,000, or 17 cents per share, for the fiscal year ended March 31. That compares with net income of $4,000, or zero cents per share, for the previous fiscal year.
From continuing operations, net income was $4.4 million, or 85 cents per share, for the fiscal year ended March 31. That compares with net income of $4.6 million, or 87 cents per share, for the prior fiscal year.
Net sales for the most recent year totaled $40.1 million, down from $42.2 million.
For the fourth quarter, the company had net income of $933,000, or 18 cents per share, up from $177,000, or 3 cents per share. From continuing operations, income was $933,000, or 18 cents per share, on net sales of $8.8 million. That compares with net income from continuing operations of $1.2 million, or 24 cents per share, on revenues of $11.1 million a year earlier.
The company designs, manufactures and markets institutional furniture.
The company's stock was priced at $11.74 early Wednesday, down 65 cents from Tuesday's close. In the past year, the price has ranged from $7 to $14.99.