Perceptron, Inc. announced unaudited earnings results for the fourth quarter and full year ended June 30, 2017. For the quarter, the company reported net sales were $22,351,000 against $18,774,000 a year ago. Operating income was $1,043,000 against operating loss of $244,000 a year ago. Income before income taxes was $896,000 against loss before income taxes of $359,000 a year ago. Net income was $261,000 against net loss of $15,594,000 a year ago. Basic and diluted income per share was $0.03 against loss of $1.66 a year ago. Recurring operating income, which excludes severance, impairment and other charges, was $2.1 million for fourth quarter as compared to a slight profit of $15,000 in prior year's fourth quarter. Excluding special items, net income was $261,000 or $0.03 diluted per share compared to $755,000 or $0.08 diluted per share a year ago.

For the full year, the company reported net sales were $77,947,000 against $69,135,000 a year ago. Operating income was $1,819,000 against operating loss of $9,384,000 a year ago. Income before income taxes was $1,262,000 against loss before income taxes of $9,217,000 a year ago. Net loss was $168,000 against $22,113,000 a year ago. Basic and diluted loss per share was $0.02 against $2.36 a year ago. On a year-to-date basis, recurring operating income was $3.6 million compared to a loss of $6.6 million for fiscal -- 2016 fiscal year. This turnaround of over $10 million was driven by top line growth, aided by cost savings from March 2016 Financial Improvement Plan, favorable mix contributed as did holding down fixed costs through this significant volume increase. Excluding special items, net income was $400,000 or $0.04 diluted per share compared to loss of $5,764,000 or $0.62 diluted loss per share a year ago.

Looking ahead to fiscal year 2018, the company expects first quarter revenue in the range of $16.0 million to $19.0 million, as well as mid-single digit growth in its top line results for the full year fiscal 2018. Longer-term aspirations are for sustained high-single digit revenue growth and resulting double-digit earnings growth.