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Last $6.78 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 8:04 PM 05/5/15 All times are local (Market data is delayed by at least 15 minutes).

servotronics inc (SVT) Snapshot

Open
$6.50
Previous Close
$6.78
Day High
$6.81
Day Low
$6.50
52 Week High
09/17/14 - $8.13
52 Week Low
10/21/14 - $5.54
Market Cap
16.5M
Average Volume 10 Days
2.8K
EPS TTM
$-0.33
Shares Outstanding
2.4M
EX-Date
06/20/13
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for SERVOTRONICS INC (SVT)

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servotronics inc (SVT) Details

Servotronics, Inc. designs, manufactures, and markets technology and consumer products in the United States and internationally. The company’s Advanced Technology Group segment provides servo-control components to the commercial aerospace, missile, aircraft, and government related industries; and medical and industrial markets. This segment’s principal servo-control components include torque motors, electromagnetic actuators, hydraulic valves, pneumatic valves, and related devices that convert an electrical current into a mechanical force or movement, and other related products. It also offers metallic seals of various cross-sectional configurations to close tolerances from standard and special alloy steels. This segment markets its products through its professional staff to the United States Government, government prime contractors, government subcontractors, commercial manufacturers, and end users. The company’s Consumer Products Group segment provides cutlery products, including steak, carving, bread, butcher, and paring knives for household use, as well as for use in restaurants, institutions, and 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 fabrication, metal fabrication, and other engineering, design, and OEM/white-label manufacturing services to customers in 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, outdoors, and sporting retailers; and various branches of the United States Government. Servotronics, Inc. was founded in 1959 and is headquartered in Elma, New York.

253 Employees
Last Reported Date: 03/20/15
Founded in 1959

servotronics inc (SVT) Top Compensated Officers

Founder, Chairman and Chief Executive Officer...
Total Annual Compensation: $618.3K
President, Director, Chief Executive Officer ...
Total Annual Compensation: $328.0K
Chief Financial Officer and Treasurer
Total Annual Compensation: $231.6K
Compensation as of Fiscal Year 2014.

servotronics inc (SVT) Key Developments

Servotronics, Inc. Reports Earnings Results for the Year Ended December 31, 2014

Servotronics Inc. reported earnings results for the year ended December 31, 2014. For the year, the company reported increased revenues of 4.4% to $31,646,000 compared to $30,310,000 for the same period of 2013. This includes a 12.7% increase in revenues at the Advanced Technology Group (ATG). Net loss for the year was $3,126,000 or $1.38 per share, primarily due to a one-time charge relating to an arbitration award, compared to net income of $975,000 or $0.43 per share in the same period of 2013.

Servotronics, Inc. Appoints Rigel D. Pirrone as Director

On January 16, 2015, the board of directors of Servotronics Inc. appointed Commander Rigel D. Pirrone, USN to serve as a director of the company. CDR Pirrone will serve as an independent director and as a member of the audit committee. CDR Pirrone is a senior United States Naval Officer and Aviator with nearly 15 years of diverse leadership experience in departmental, budget, project and logistical management. He has been executive officer overseeing all administrative and operational matters related to a Naval Aviation squadron since April 2014 and is slated to assume Commanding Officer role in 2015.

Servotronics, Inc. Enters into Loan Agreement with Bank of America, N.A

On December 1, 2014, Servotronics Inc. entered into a loan agreement with Bank of America, N.A. The loan agreement provides for a $2,620,000 seven-year term loan and $2,000,000 line of credit. The line of credit is available until June 24, 2015, unless subsequently renewed, and replaces the company's existing $2,000,000 line of credit on which there was $1,000,000 outstanding at November 30, 2014. Borrowings under the credit facilities will bear interest, at the company's option, at the bank's prime rate or LIBOR plus 1.4%. Principal installments are payable on the term loan and the OKC term loan through December 1, 2021 with a balloon payment at maturity of the term loan. The term loan and line of credit are secured by all of the company's equipment, receivables and inventory.

 

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