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-- Revenue expected to increase in the fourth quarter of 2022 driven by increasing order volume from Servotronics' Advanced Technology Group -- ELMA, N.Y., Nov. 14, 2022 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products today reported financial results for the quarter and nine months ended September 30, 2022. The Company reported third quarter 2022 net loss of $(316,000), or $(0.13) per diluted share as compared to third quarter 2021 net income of $3.2 million, or $1.34 per diluted share. In the third quarter of 2021, the Company's net income included non-recurring other income related to
-- Revenue expected to increase in the third quarter of 2022 driven by increasing order volume from Servotronics' Advanced Technology Group -- ELMA, N.Y., Aug. 15, 2022 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products today reported financial results for the second quarter ended June 30, 2022, including 12% growth in revenue. The company reported second quarter 2022 net loss of $(810,000), or $(0.33) per diluted share. Second quarter 2021 net income of $1,186,000, or $0.49 per diluted share, included a $1.9 million or $0.62 per share contribution to earnings from government-provided employe
-- Anticipated first quarter 2022 total revenue growth on improving Advanced Technology Group sales is attributed to process improvements and maintenance of production capabilities, including Servotronics' highly skilled workforce, over the last two years -- ELMA, N.Y., March 31, 2022 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products today reported financial results for the fourth quarter and twelve months ended December 31, 2021 including net income growth and record high levels of operating cash flow and year-end cash. The company reported net income of $4.1 million, or $1.68 per diluted s
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S.A.V.E. Servotronics Proposal Shareholder Action for Value and Employees BUFFALO, N.Y., Feb. 4, 2025 /PRNewswire/ -- Beaver Hollow Wellness issued the following letters to Servotronics, Inc. (NYSE American – SVT) shareholder and the Board of Directors: Investors, employees, customers, and other interested stakeholders can view our plan, and related materials, at https://saveservotronics.com/ Dear Fellow Shareholders and the Servotronics Board of Directors, We are Beaver Hollow Wellness, LLC, one of the largest shareholders of Servotronics, Inc. ("Servotronics" or "the Company") and we are compelled to present this proposal with urgency and purpose. The goal is to address a critical situat
-- Strong revenue growth despite industry-wide challenges -- ELMA, N.Y., Nov. 8, 2024 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT), a designer and manufacturer of servo-control components and other advanced technology products, today reported financial results for the third quarter and nine months ended September 30, 2024. Highlights of the third-quarter financial results are as follows: Revenues were $12.4 million, up 7.3% from $11.6 million in the third quarter of 2023, driven by higher volumes and improved pricing.Gross profit of $2.3 million, or 18.2% of sales,
-- Continued market demand and operating performance results in year-over-year revenue and profit growth -- ELMA, N.Y., Aug. 8, 2024 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT), a designer and manufacturer of servo-control components and other advanced technology products, today reported financial results for the second quarter ended June 30, 2024. Highlights for the second quarter financial results include the following: Consolidated revenues were $12.3 million, up 15.3% from $10.7 million in the second quarter of 2023. Revenue growth resulted from higher volumes
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ELMA, N.Y., Jan. 31, 2024 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT), a designer and manufacturer of servo-control components and other advanced technology products, today announced that Harrison W. Kelly III has been appointed as its new Chief Operating Officer (COO). With over twenty years of experience in executive operations leadership and practical engineering across aerospace, automotive and medical device manufacturing, Dr. Kelly brings a wealth of expertise to lead the Company's operational and strategic initiatives. As the COO of Servotronics, Dr. Kelly
ELMA, N.Y., June 14, 2023 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products today announced the results of voting at the Company's 2023 Annual Shareholder meeting. Shareholders voted to re-elect all six of the current directors to one-year terms, to approve the 2022 "say on pay" proposal as well as to ratify the appointment of Servotronics' Independent Public Accounting firm. On Proposal 1, more than 70% of all shares voted were voted in favor of the election of all six of the
ELMA, N.Y., April 26, 2023 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products announced today that Robert Fraass has been appointed Chief Financial Officer of the Company effective May 1, 2023. He replaces Lisa F. Bencel who will be leaving the Company later in May to pursue other interests. Mr. Fraass most recently comes from Stark Technologies Group, Inc. where he served as Senior Vice President of Finance – Corporate Controller & Treasurer. He has also held several executive finance roles of increasing responsibility at PostProcess Technologies, Ivoclar Vivadent, Integer and Integrys Energ