Todd Shipyards reports higher sales, profit

by Tim Flanagan on June 10, 2010

Drew DeSilver has this story in the Seattle Times:

Todd Shipyards on Thursday reported sharply higher sales and profit for fiscal 2010, abortion mainly due to increased government work.

The Seattle-based shipbuilding and repair company earned $7.8 million, or $1.35 per share, in the fiscal year ended March 28. That’s 63 percent more than the $4.8 million Todd earned last fiscal year.

Revenue totaled $180 million, up 59 percent from fiscal 2009. The higher revenue was due mainly to increased ship repair work for the Navy and Coast Guard, as well as building new ferries for Washington State Ferries (WSF).

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