DETTINGEN/ERMS, Germany (March 31, 2010)—ElringKlinger A.G. posted a 16.6-percent decline in net income on an 11.9-percent falloff in sales during the year ending last December.
The company said earnings before interest and taxes reached $71.5 million, while net profits fell to $39.8 million.
ElringKlinger said demand increased toward the end of the year, after a continuing slump from late 2008 extended into 2009. New orders in the fourth quarter were a record for the company.