Boston, MA 06/10/2013 (wallstreetpr) – The share prices of Flow International Corporation (NASDAQ:FLOW) had declined by 8.93 percent to close at $3.67 per share for the end of last trading session on Friday. The shares of the company had been trading in the range of $3.61 to $4.00 per share during the day. The shares of Flow International Corporation (NASDAQ:FLOW) had recorded 52 week low price level of $2.70 per share and 52 week high price level of $4.09 per share.
Flow International Corporation (NASDAQ:FLOW) is primarily engaged in developing and providing customer driven water jet cutting and surface preparation solutions. The water pumps of the technology based company are designed to generate pressures ranging from 40,000 to over 94,000 pounds per square inch. Further Flow International Corporation (NASDAQ:FLOW) also produces power waterjet systems which are to be used for cutting and cleaning materials.
Preliminary results for fourth quarter
Flow International Corporation (NASDAQ:FLOW) had recently announced the preliminary results for the fourth quarter of fiscal year 2013, which ended on April 30, 2013. In this report, the company had recorded expected revenue of approximately $58 million compared to the revenue of $63.4 million for the same quarter of previous year.
Further, the company had also announced that Flow International Corporation (NASDAQ:FLOW) had been taking stringent actions to reduce the operating expenses by approximately 10 percent or $9 million on an annualized basis. In addition, the company also expects to increase the gross profit margins by around 10 basis points for its new launched products.
Such strategic changes being made by Flow International Corporation (NASDAQ:FLOW) would generate greater revenues for the company in the recent future. The shares of the company had witnessed the trade of 1.95 million shares on Friday, while the average trading volume for the company is at 253,588 shares per day.
Flow International Corporation (NASDAQ:FLOW) presently holds 48.42 million shares outstanding in the market with an institutional ownership of 77 percent of its holdings.
