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Graham Corporation Reports Strong Orders and Record Backlog for Fiscal Year 2015 First Quarter

Graham Corporation Reports Strong Orders and Record Backlog for Fiscal Year 2015 First Quarter

  • First quarter orders of $31.1 million, up 32% over trailing quarter
  • Record backlog of $114.8 million
  • First quarter revenue was $28.5 million; diluted earnings per share was $0.24
  • Fiscal 2015 guidance confirmed; revenue expected to grow 17% to 27% to range of $120 to $130 million

BATAVIA, NY, July 31, 2014 – Graham Corporation (NYSE: GHM), a global business that designs, manufactures and sells critical equipment for the oil refining, petrochemical and power industries, including the supply of components and raw materials to nuclear energy facilities, today reported its financial results for its first quarter ended June 30, 2014. Graham’s current fiscal year (“fiscal 2015”) ends March 31, 2015. Mr. James R. Lines, Graham’s President and Chief Executive Officer, commented, “We had a solid start to fiscal 2015 and I believe we are on track to achieve our growth targets for the year. Margins during the quarter reflected both the project mix in backlog and the fact that we remain in the early stages of a recovery in our markets. We are encouraged that the recovery appears to be steadily advancing, which we believe is reflected in our strong and growing backlog. We continue to invest in our facilities, processes and people while at the same time reaching for opportunities to expand our growth potential.”

 

* To read entire press release, please refer to the PDF version below

 

 

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Graham Corporation
20 Florence Avenue. Batavia, NY 14020
Phone: 585.343.2216 // Fax: 585.343.1097
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