O.I. Corporation (OICO) Reports Q4 Earnings; Sees Negative Impact to 2009 Results

March 20, 2009 12:08 PM EDT

O.I. Corporation (NASDAQ: OICO) reports Q4 EPS of $0.18, compared to $0.08 for the fourth quarter of 2007. Revenue were $6,977,000, compared to $6,796,000 for the same period of the prior year.

"... We expect the continuing economic slowdown to negatively impact our results in 2009. Our backlog of open orders declined significantly at the end of 2008 compared to historical levels and bookings levels in 2009 have been down substantially compared to 2008. We believe OI's strong financial position should provide stability in the short-term. In addition, we have taken measures to reduce our payroll as well as SG&A expenses and will consider further cost control initiatives."

O.I. Corporation (O.I) provides products for detection, analysis, measurement and monitoring applications in a variety of industries, including environmental testing, food and flavors, beverage, pharmaceutical, semiconductor, power generation, chemical, petrochemical and security.[SM]

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