The Indianapolis-based maker of equipment for cutting and forming metal beat the weakened economy in Europe, but saw a sales drop in the recessionary Asia Pacific market.
The company, which develops computer-controlled equipment for cutting and forming metal, made progress in fiscal 2012 toward restoring profitability to pre-recession levels.
The Indianapolis-based maker of computer-controlled machining tools attributed much of the increase to higher demand for its products in North America and Europe.
The Indianapolis-based maker of computerized metal-cutting tools piled up record profits in fiscal years 2005 through 2008, but now is trying to leave behind a second year of losses.
Indianapolis-based machine toolmaker’s CEO takes 63-percent compensation cut.