Mansfield, Ohio-based Gorman-Rupp reported record net sales of $56.1 million for the second quarter ended June 30, 2005, compared to $50.8 million during the same period in 2004, an increase of 10.4 percent. Net income for the quarter was $3.3 million, compared to $2.4 million during the same period in 2004, an increase of 36.3 percent. Net income during the quarter exceeded each of the five previous quarters. Earnings per share during the quarter were $0.32 compared to $0.23 during the same period in 2004.
Net sales for the six months ended June 30 were $108.15 million compared to $100.2 million during the same period in 2004, an increase of $7.9 million or 7.9 percent. Net income for the first six months of 2005 was almost $5 million compared to $4.7 million for the same period 2004, an increase of 7.2 percent and equal to earnings per share of $0.47 and $0.44, respectively.
Increased sales and new orders in the construction, fire protection and international markets during the second quarter 2005 reflected continuing improvement in the capital goods sector in response to the general economic recovery.
