SOUTH WINDSOR, Conn.—Gerber Scientific (NYSE: GRB) reported revenue of $120.1 million for its fiscal fourth quarter ended April 30, 2009, down 31 percent from year ago. Gross profit was $33.2 million or 27.7 percent of sales versus $51.2 million or 29.5 percent of sales year ago.

The South Windsor, Conn.-based company posted a fourth quarter operating loss of $1.3 million, or a 1.1 percent operating margin, compared with $8.2 million of operating income and an operating margin of 4.7 percent year ago. Net loss was $2.3 million compared with net income of $6.1 million. Net cash flows from operations, less capital expenditures, totaled $1.7 million versus $9.4 million year ago. The company recorded positive cash flow in the quarter due to working capital improvements.

The Gerber Coburn ophthalmic lens processing unit posted $14.0 million in revenue fourth quarter 2009 versus $18.3 million in the year ago period. Operating income was $0.6 million versus $1.3 million year ago.

For the fiscal year ended April 30, 2009, Gerber Scientific posted revenue of $552.8 million, a 13.6 percent drop from year ago. Net income was $2.2 million versus net income of $14.5.million year ago.

Gerber Coburn reported year-end revenue of $57.5 million versus $71.0 million year ago. Operating income for the unit was $3.2 million in FY 2009 versus $4.4 million in FY 2008.

“The sharp global economic downturn that began in the last half of 2008 continued to severely impact our performance in the fiscal fourth quarter,” said Marc Giles, Gerber Scientific president and chief executive officer. “Sales in the fourth quarter, normally our strongest quarter of the year, were essentially flat with the third quarter. The lack of any seasonal rebound indicates that conditions in the markets we serve continued to worsen. Facing this situation, we continued to make substantial progress in lowering our cost structure to combat the downturn, which resulted in the significant year-over-year spending reductions.”

Giles said Gerber Scientific is considering several asset sales that could generate proceeds of up to $20 million, allowing the company to substantially improve its liquidity and flexibility under its existing credit facility.