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Archive: 2022

2022 2nd Quarter Report

Servotronics Announces Financial Results for Second Quarter 2022 Including 12% Growth in Revenue — Revenue expected to increase in the third quarter of 2022 driven by increasing order volume from Servotronics’ Advanced Technology Group — ELMA, N.Y., Aug. 15, 2022 /PRNewswire/ — Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components […]

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2022 1st Quarter Report

Servotronics Announces First Quarter 2022 Financial Results Including EPS of $0.13 and Significant Growth in Revenue, Gross Margin and Operating Income — Revenue growth expected to continue in the second quarter of 2022 driven by increasing order volume from Servotronics’ Advanced Technology Group — ELMA, N.Y., May 16, 2022  — Servotronics, Inc. (NYSE American – […]

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Servotronics’ Board Appoints Two New Independent Directors, Names Non- Executive Chairman and Accelerates Expiration of its Shareholder Rights Plan

ELMA, N.Y., April 27, 2022 — The Board of Servotronics, Inc. (NYSE American – SVT) announced the appointment of two new independent directors and a non-executive Chairman, as well as the accelerated expiration of the company’s shareholder rights plan. Evan Wax, Managing Member of one of Servotronics’ largest shareholders, Wax Asset Management LLC, and retired […]

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Servotronics Hires New Chief Executive Officer

Servotronics Names William Farrell, Jr. to Serve as Chief Executive Officer — Executive with more than 30 years’ of global aerospace and industrial experience also joins Servotronics’ Board — ELMA, N.Y., April 21, 2022 – The Board of Servotronics, Inc. (NYSE American – SVT) announced that it appointed William F. Farrell, Jr. to serve as […]

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2021 Year End Income and Revenues

Servotronics Announces 2021 Financial Results Including EPS of $1.68, Record Operating Cash Flow, Lower Total Operating Costs and Expenses, and Enhanced Balance Sheet Strength — Anticipated first quarter 2022 total revenue growth on improving Advanced Technology Group sales is attributed to process improvements and maintenance of production capabilities, including Servotronics’ highly skilled workforce, over the […]

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Servotronics Receives Nominations For Its Board Of Directors

SERVOTRONICS RECEIVES NOMINATIONS FOR ITS BOARD OF DIRECTORS — Company shareholders are not required to take any action at this time — Elma, N.Y., March 03, 2022 — Servotronics, Inc. (NYSE American – SVT) this week received a communication purporting to give notice of shareholder nomination of individuals for election as directors at the Company’s […]

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