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Hawkins increases income
Originally published:  26/06/2012
US-based Hawkins has announced a fiscal 2012 net income of $22.7m, up from the previous year's figure of $20.3m. At the same time, sales rose 15.5 per cent from $297.6m to $343.8m. Meanwhile, in terms of its fiscal fourth quarter the company clocked up a net income of $3.5m from sales worth $83.2m compared to respective prior-year figures of $1.9m and $82m. "We continue to invest in our future as we grow our base business," says president and CEO Patrick H Hawkins. "Margins in our Water Treatment segment improved in the fourth quarter allowing it to largely overcome the impact of unfavourable weather conditions in the first half of the year. The Vertex acquisition also added to our profitability in our Industrial segment."
"The construction of our new Rosemount facility is progressing well as we target the end of fiscal 2013 as the start of production at this site," he continues. "Fiscal 2013 will be a year of significant investment for our company as we complete that construction and absorb that facility's start-up costs. In addition, we continue to add sales resources to our Water Treatment and Industrial groups where we see opportunities for growth and to leverage the Vertex infrastructure. We expect to fund these strategic investments with current cash and investments and cash flows from our operations."