Welcome to our dedicated page for Sci Engineered news (Ticker: SCIA), a resource for investors and traders seeking the latest updates and insights on Sci Engineered stock.
SCI Engineered Materials, Inc. (SCIA) is a global supplier and manufacturer of advanced materials for physical vapor deposition (PVD) thin film applications. The company’s news flow provides insight into how it manages growth, invests in manufacturing capabilities, and responds to market conditions in the semiconductor and related device manufacturing industry.
News updates frequently cover quarterly and annual financial results, where SCI reports on revenue, gross profit, operating expenses, net income, and cash flows. Management commentary in these releases discusses the impact of product mix, raw material costs, and volume, as well as the company’s focus on profitability, balance sheet strength, and long-term growth strategy.
Investors and industry followers can also track corporate developments through SCI’s news, including announcements about executive transitions, such as the planned retirement of the company’s Chief Financial Officer, and capital allocation decisions like the authorization of a share repurchase program. These items provide context on governance and how the company approaches shareholder returns.
SCI’s news includes strategic and operational updates, such as new product introductions, manufacturing agreements, and participation in industry trade shows. Examples include a five-year manufacturing agreement to produce a photoluminescent powder for defense applications and plans to exhibit at a major photonics and laser industry exposition. Together, these releases highlight SCI’s efforts to expand in target markets, including defense and photonics, and to leverage its PVD thin film materials expertise.
For readers interested in SCIA stock, this news page offers a centralized view of the company’s reported performance, strategic actions, and market-facing activities over time.
SCI Engineered Materials, Inc. reported record revenue of $8,403,095 for the first quarter of 2024, a 45% increase from the same period last year. The company's gross profit increased by 7% to $1,415,116, but operating expenses also rose. Net income was $545,324, with earnings per share at $0.12. Cash and equivalents declined slightly, while total debt outstanding decreased by 42%.
COLUMBUS, OH / ACCESSWIRE / March 2, 2023 / SCI Engineered Materials, Inc. ("SCIA" OTCQB) has announced the passing of former Board member Walter J. Doyle at the age of 88. Doyle served on the Board from 2004 to 2014, providing significant insights and contributions, particularly within the Audit and Compensation Committees. Chairperson Laura F. Shunk expressed condolences, highlighting his role in supporting SCI's long-term growth objectives. While the Company's strategic direction remains unchanged, Doyle's absence from the Board leaves a notable gap in leadership.
SCI Engineered Materials, Inc. (OTCQB:SCIA) reported impressive financial results for 2022, highlighting a 75% increase in total revenue, which reached $23.47 million. The company also achieved a 36% rise in gross profit, totaling $4.79 million, along with a record earnings per share of $0.43, marking an 18% year-over-year growth. Notably, SCI managed a 40% reduction in total debt, finishing the year with $146,516. The company plans to focus on increasing sales volume and operational efficiencies in 2023 while remaining cautiously optimistic about global economic conditions.
SCI Engineered Materials, Inc. (SCIA:OTCQB) has completed the installation of a new vacuum hot press in Columbus, OH, enhancing its production capabilities and product offerings. This press, capable of operating at high pressures and temperatures, improves the manufacturing of targets from diverse precious metals, with a maximum diameter of 18 inches. Costing approximately $500,000, paid in cash, the new equipment addresses ongoing supply chain challenges. CEO Jeremy Young stated that the upgrade will significantly strengthen SCI's manufacturing footprint and supports a new marketing initiative to raise awareness of these enhanced capabilities.
SCI Engineered Materials reported record financial results for Q2 and the first half of 2022. Total revenue reached $6,505,005 in Q2, up from $1,972,049 in 2021, with six-month revenue at $11,831,437 compared to $4,994,359 last year. Gross profit doubled to $1,377,668 in Q2. Operating expenses rose to $623,626 due to increased staffing and travel. Despite economic uncertainties, SCI maintains a solid order backlog of $5.3 million as of June 30, 2022, signaling cautious optimism for continued stability in the second half of the year.
SCI Engineered Materials, Inc. (OTCQB:SCIA) reported record revenue of $5,326,432 for Q1 2022, up from $3,022,310 in Q1 2021. Despite a strong start, challenges like supply chain issues, semiconductor shortages, and rising inflation impacted results. Gross profit increased by 24% to $994,101, although gross margin fell due to higher raw material costs. Notably, income applicable to common stock was $384,401 or $0.08 per diluted share, down from the prior year's $646,547.
Net cash was $4,646,475, while total debt decreased to $219,435.
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