Company reports lower net sales, net income in fourth quarter.

Michigan-based Perceptron (NASDAQ: PRCP, Stock Forum) saw its shares fall 10.1% to $7.75 Thursday after the company reported its fourth quarter and year-end results after market close Wednesday.
The company, which is involved in the design, development, manufacture and marketing of information-based measurement and inspection solutions for process improvements for the automotive industry, reported net sales of $72.5 million and net income of $995,000, or 11 cents per diluted share, for the fiscal year ended June 30.
In 2007, Perceptron recorded net sales of $62.3 million and net income of $1.5 million, or 17 cents per diluted share. For the fourth quarter the company says its net sales were $17.5 million, while its net income was $525,000, or six cents per diluted share. Net sales were $23.4 million and net income was $2.3 million, or 26 cents per diluted share, for the fourth quarter of 2007.
Fiscal year 2008 sales increased $10.2 million over fiscal year 2007, says Perceptron.
