Graham Tightens FY17 Revenue Outlook

(RTTNews) - Graham Corp.(GHM) said it tightened its fiscal year 2017 revenue expectations within its prior range.

James Lines, Graham's President and Chief Executive Officer said, "As we enter the fourth quarter of our fiscal year, we have clearer visibility into our expected full year performance. Accordingly, we've tightened our revenue expectations within our prior range. Our gross margin and SG&A guidance are unchanged and we lowered our tax rate guidance. Looking forward, we anticipate SG&A at a quarterly run rate of about $4 million.

For fiscal 2017, the company expects revenue to be between $88 million and $92 million, compared to the prior outlook of $85 million - $95 million.

Gross margin is expected to be between 21% and 23%. SG&A expense is expected to be between $15 and $15.5 million, inclusive of the $0.6 million restructuring charge. Effective tax rate is anticipated to be between 28% and 30%.