Flow International Announces Final Fiscal 2006 First Quarter Results

KENT, Wash., Dec. 2, 2005 -- Flow International Corporation , the world's leading supplier of ultrahigh-pressure waterjet products, yesterday reported results and filed the Form 10-Q for its fiscal 2006 first quarter ended July 31, 2005.

FLOW had previously announced preliminary first quarter financial results on September 15, 2005. Compared to the previously announced results, the Company has made adjustments to cost of sales, operating expenses and to items below the operating income line. The effect of these adjustments, compared to the previously announced preliminary results, is shown below. The adjustments did not impact previously announced sales or cash flows for the quarter.

-- Operating income decreased by $508,000 to $1.9 million.

Net income decreased by $686,000 to $22,000 and earnings per basic and diluted earnings per share decreased from $0.02 to $0.00. This decrease was primarily the result of the recording of additional costs related to the disposition of Avure, contracts in progress, and compensation expense

Final results for the fiscal 2006 first quarter ended July 31, 2005 are reported in the financial tables that follow.

With the filing of its Form 10-Q, the Company will again be in compliance with NASDAQ listing requirements.

About Flow International

Flow International Corporation is the world's leading developer and manufacturer of ultrahigh-pressure waterjet cutting technology to industries including automotive, aerospace, job shop, surface preparation, and more. For more information, visit www.flowcorp.com.