Graham Q3 Profit Down - Quick Facts

(RTTNews) - Graham Corp. (GHM) reported that its third-quarter net income declined to $9 thousand or break even per share from $95 thousand or $0.01 per share in the prior year.

Excluding the business of Graham's commercial nuclear utility subsidiary which was divested in June 2019, adjusted net income was $0.5 million or $0.05 per share in the prior year.

Net sales for the quarter grew to $25.3 million from $17.2 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share on revenues of $29.69 million for the third-quarter.

The company still expects revenue for fiscal year 2020 to be between $100 million and $105 million. For fiscal 2019, consolidated revenue excluding Energy Steel was $83.5 million. Analysts expected revenues of $103.1 million.