MARKET COMPOSITE
SVT - Servotronics, Inc.2:06:21 PM 4/25/2024
Price
$11.95
-0.24 (-1.97%)
Servotronics, Inc. designs, manufactures, and markets control components and consumer products in the United States and internationally. The company operates in two segments, Advanced Technology Group (ATG) and Consumer Products Group (CPG). The ATG segment provides servo-control components to the commercial aerospace, aircraft, and government related industries; and medical and industrial markets. This segment's principal components include torque motors, electromagnetic actuators, hydraulic and pneumatic valves, and related devices that convert an electrical current into a mechanical force or movement, and other products. It also offers metallic seals of various cross-sectional configurations to close tolerances from standard and special alloy steels. This segment markets and sells its products to the United States Government, government prime contractors, government subcontractors, commercial manufacturers, and end-users. The CPG segment provides cutlery products, including steak, carving, bread, butcher, and paring knives for household use, as well as for use in restaurants, institutions, and the private industry; fixed and folding knives for hunting, fishing, and camping; and machetes, bayonets, axes, strap cutters, and other tools primarily for military and rescue/first-responder use, as well as for commercial markets. It also offers various specialty tools, putty knives, linoleum sheet cutters, field knives, scalpels, and micro-spatulas; and plastic and metal fabrication, as well as engineering, design, and OEM/white-label manufacturing services to customers in the consumer and commercial industries. This segment markets its products through its sales resources and independent manufacturers' representatives to big box, hardware, supermarket, variety, department, discount, gift, drug, outdoor, and sporting stores, as well as through electronic commerce. Servotronics, Inc. was founded in 1959 and is headquartered in Elma, New York.
Financials
Quarterly financials
(USD)Dec 2023Q/Q
Revenue10.6MM-9%
Gross Profit2.8MM+13%
Cost Of Revenue7.8MM-15%
Operating Income1.2MM-
Operating Expenses1.6MM-
Net Income464K-327%
G&A1.6MM-28%
Interest Expense96K-2%
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Stock news

    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 full-year ended December 31, 2023.

    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 initiative

    Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products today released a revised investor update highlighting its progress in achieving its long-term strategic vision along with initial 2024 financial outlook.

    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, 2023.

    Servotronics, Inc. (NYSE American – SVT), a designer and manufacturer of servo-control components and other advanced technology products, today announced that it has strengthened its sales and marketing team with the hiring of Francisco Tizón as Director of Sales & Marketing.

    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, 2023.

    Servotronics, Inc. (NYSE American – SVT), a designer and manufacturer of servo-control components and other advanced technology products, today announced it has closed the sale of assets associated with its Ontario Knife Company (OKC) business to Marion, Virginia based Blue Ridge Knives, Inc. (BRK).

    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.

    Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products today announced that on June 1, 2023 Star Equity Fund, L.P. notified the Company that Star Equity was withdrawing its two nominees for election to the Company's Board of Directors. The withdrawal of Star Equity's nominees is not the result of any concessions by the Company nor a negotiated settlement with Star Equity.

    Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products today announced that leading proxy advisory firm, Institutional Shareholder Services (ISS) has recommended shareholders vote "FOR" all of Servotronics directors on the BLUE proxy card at the Company's 2023 annual meeting of shareholders which will be held virtually on June 9, 2023 at 9:00 am ET.