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Servotronics, Inc. designed, developed, and manufactured servo-control components and other advanced technology products for commercial and government applications, including aircraft, jet engines, missiles, manufacturing equipment, and aerospace systems. Its operations were associated with facilities in Elma and Franklinville, New York.
Company developments covered operating and financial results, demand and margin trends, strategic alternatives, material agreements, capital-structure disclosures, shareholder voting matters, and governance disputes. In 2025, Servotronics completed its acquisition by TransDigm following a tender offer, changing SVT from a listed public operating company into a historical issuer record.
Servotronics, Inc. (NYSE American – SVT) announced its recognition as 2020 Supplier of the Year by Collins Aerospace for operational excellence and support. Additionally, it received the 2020 Most Improved Supplier of the Year Award for repair and overhaul. President Kenneth D. Trbovich expressed gratitude towards Collins for the awards and reaffirmed commitment to high-quality service. Servotronics operates through two groups: ATG, focusing on servo controls for various applications, and CPG, which manufactures edged products for commercial and government use.
Servotronics, Inc. (NYSE American – SVT) reported a significant decline in financial performance for the year ended December 31, 2020. Net income fell to $100,000 ($0.04 per share) from $2,447,000 ($1.05 per share) in 2019. Revenues decreased from $55,272,000 to $49,844,000. Gross margin also dropped to 16.5%, a decrease from 21.9% the previous year. The pandemic significantly impacted operations, leading to lower shipments and increased operational costs. The company received a $4 million Paycheck Protection Program loan, with uncertainty surrounding its forgiveness.
Servotronics, Inc. (SVT) reported a net loss of $1,782,000 for Q3 2020, translating to a loss of $0.75 per share, contrasting sharply with a net income of $1,132,000 in Q3 2019. Revenues fell by 16.7% to $10,297,000, attributed to delayed customer orders linked to the COVID-19 pandemic. The company faced a negative gross margin of $165,000, a significant decline from a gross margin of $3,535,000 the prior year. SG&A expenses slightly decreased but represented a higher 20.3% of revenue. The company secured a $4,000,000 PPP loan to support operations during these challenges.
Servotronics, Inc. (NYSE American – SVT) announced its second-quarter results for 2020, reporting a net income of $965,000 or $0.41 per share, up from $714,000 or $0.31 per share in Q2 2019. Revenue decreased by approximately 4.0% to $13,504,000, primarily due to reduced shipments at the ATG segment, partially offset by increased shipments at the CPG segment. Selling, general, and administrative expenses dropped by 26.4% to $627,000, improving the expense ratio. The CEO expressed confidence amid ongoing economic uncertainty related to COVID-19.