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BATAVIA, NY, August 4, 2017 – Graham Corporation (NYSE: GHM), a global business that designs, manufactures and sells critical equipment for the oil refining, petrochemical, power and defense industries, today reported financial results for its first quarter ended June 30, 2017 (“fiscal 2018”).
Net sales in the first quarter of fiscal 2018 were $20.9 million, compared with net sales of $22.4 million in the first quarter of the fiscal year ended March 31, 2017 (“fiscal 2017”). Net income in the fiscal 2018 first quarter was $0.9 million, or $0.10 per diluted share, compared with $0.1 million, or $0.01 per diluted share, in the prior-year first quarter which was unfavorably impacted by a $0.4 million net-of-tax restructuring charge.
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