Company: SIF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0000090168-25-000032
Chunk: 20

Company: SIFCO INDUSTRIES INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 20
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 2024. The effective tax rate differs from the U. S. federal statutory rate due primarily to the valuation allowance against the Company’s U. S. deferred tax assets and income in foreign jurisdictions that are taxed at different rates than the U. S. statutory tax rate.

Income (Loss) from Continuing Operations

Income from continuing operations was $3.3 million during the third quarter of fiscal 2025, compared with a loss from continuing operations of $0.9 million in the comparable period of fiscal 2024. The improvement was primarily driven by a net benefit recognized of $2.7 million related to the ERC, as well as higher gross margins, lower SG& A expenses discussed above, and reduced interest expense due to lower average debt outstanding.

Nine Months Ended June 30, 2025 compared with Nine Months Ended June 30, 2024

Net Sales

Net sales comparative information for the first nine months of fiscal 2025 and 2024 is as follows:

  (Dollars in millions)                             Nine Months Ended                                    Increase/ (Decrease)           
                                                             June 30,                                                                   
                                                                 2025                2024                                               
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Aerospace components for:                                                                                                             
  Fixed wing aircraft                                               $      40.4         $      30.7      $                         9.7  
  Rotorcraft                                                     11.5                12.8                (1.3)                          
  Commercial space                                                4.3                 9.3                (5.0)                          
  Energy components for power generation units                    2.0                 1.6                0.4                            
  Commercial product and other revenue                            3.8                 3.6                0.2                            
  Total                                                             $      62.0         $      58.0      $                         4.0  

Net sales for the first nine months of fiscal 2025 increased $4.0 million to $62.0 million, compared with $58.0 million in the comparable period of fiscal 2024. Fixed wing sales increased $9.7 million compared with the same period last year, primarily due to higher demand across most programs. Rotorcraft sales declined $1.3 million compared with the same period last year primarily due to the timing of orders in the H60 program. Commercial space products decreased by $5.0