EDEN PRAIRIE, Minn. (AP) — MTS Systems Corp. said Thursday that its fiscal third-quarter net income rose, as its test and sensors businesses grew and the company’s gross margin improved.
MTS, which provides mechanical testing systems for companies that produce everything from cars to farm equipment, earned $11 million, or 69 cents per share, in the quarter that ended July 2. A year earlier, the company earned $5,000 and broke even on a per-share basis.
Revenue rose 38 percent to $117 million. Revenue from the company’s test unit rose 38 percent to $89.3 million, with orders climbing 69 percent to $121.7 million. In its sensors unit, revenue rose 35 percent to $27.5 million, helped by a 28 percent increase in orders, which increased to $27.8 million.
The company’s gross margin, an indicator of how efficient its business is, improved, too. It rose 42.7 percent from 39.1 percent in July 2010.