Kewaunee Scientific Corp. announced unaudited consolidated results for its fourth quarter and year ended April 30, 2012. Net earnings attributable to company for the fourth quarter were $1,256,000, or $0.49 per basic and diluted share, up from net earnings of $252,000, or $0.10 per basic and diluted share, in the same period of the prior year. Earnings for the quarter benefited from strong international operations sales and earnings, while domestic operations earnings benefited from lower operating costs resulting from cost savings initiatives commenced earlier in the year. Sales for the quarter were $28,990,000, up 8% from sales of $26,952,000 in the same period of the prior year. Sales from domestic operations were $19,607,000, down 10% from sales of $21,797,000 in the prior year. However, incoming domestic orders for the quarter increased 22% over the same quarter last year. Sales from international operations increased to $9,383,000, up 82% from sales of $5,155,000 in the same period of the prior year, as the Company began manufacturing and shipping products for several large projects in its order backlog. The order backlog increased to a record $86.2 million at April 30, 2012, up from $65.7 million at April 30, 2011, with both domestic and international orders contributing to the growth. The backlog at April 30, 2012 includes a contract awarded during the quarter for laboratory furniture and equipment for the Kuwait University College of Engineering and Petroleum-Women's Campus. The contract, which is in excess of $11 million, was awarded through Kewaunee's dealer in Kuwait, Advanced Technology Company (ATC). The Company expects to begin manufacturing and shipping products under the contract in the late summer or early fall of calendar year 2013. The majority of the manufactured products will be produced at the Company's Statesville facilities. This contract is another indication of the Company's increased international presence and capabilities. For the quarter, the company reported operating earnings of $2,859,000 compared with $531,000 for the same period a year ago. For the quarter, the company reported earnings before income taxes of $2,790,000 compared with $441,000 for the same period a year ago. Sales for the year were $102,847,000, up 3% from sales of $100,003,000 in the prior year. Sales from domestic operations were $83,971,000, as compared to sales of $84,121,000 in the prior year. The domestic marketplace for privately-funded projects held up relatively well during the year, although at extremely competitive prices, while opportunities and orders for publicly-funded K-12 educational projects, primarily wood furniture, dropped sharply in the second quarter of the year and have continued to remain at historically low levels. Sales from international operations increased to $18,876,000, up 19% from sales of $15,882,000 in the prior year. Net earnings attributable to company for the year were $1,031,000, or $0.40 per basic and diluted share, down from net earnings of $1,850,000, or $0.72 per basic and diluted share, in the prior year. Earnings for the year were unfavorably impacted by lower selling prices, a significant increase in raw material costs beginning early in the year, particularly for steel and epoxy resin, and a large drop-off in demand for wood furniture projects. Earnings for the year were favorably impacted by strong international sales and earnings in the second half of the year, particularly the fourth quarter, and lower operating costs resulting from headcount reductions and other cost savings initiatives at Statesville. For the full year, the company reported operating earnings of $2,713,000 compared with $3,157,000 for the same period a year ago. For the full year, the company reported earnings before income taxes of $2,539,000 compared with $2,962,000 for the same period a year ago. The company provided earnings guidance for the full year of 2013. The company remains cautiously optimistic. The optimism is based on a number of factors. On the domestic front, It enters the year with a strengthened and expanded dealer network, which it believes will result in increased sales and earnings. The company is also realizing lower operating costs from its cost savings initiatives put in place over the past year. On the international front, it has also strengthened and expanded its dealer network, better positioning it to take advantage of the growing number of laboratory project opportunities in Asia and the Middle East. Furthermore, both domestic and international operations will benefit from its record order backlog.