GRAHAM CORPORATION SALES GROWTH OF 79% AND STRONG EXECUTION DELIVERED $0.06 DILUTED EPS FOR FIRST QUARTER FISCAL 2023  

• Defense industry represented 58% of quarterly revenue and 49% year-to-date validating strategic expansion into the defense industry
• Revenue of $34.1 million, up 22% driven by acquisition
• Orders increased to $31.4 million, up 50% sequentially
• Backlog at quarter-end was $233.2 million; 78% from the defense industry
• Profits and margins heavily impacted by timing of lower margin defense projects

• Order volume developing momentum in second quarter fiscal 2022
• Approximately $10.0 million in awards were related to the Company's defense/space industry platform
  • Project wins included $1.2 million for the design and development of specialized cooling pumps for Space applications
• Approximately $6.9 million of orders were related to the Company's energy and chemical/petrochemical industry platform with another $1.0 million in advanced energy
• Also received a $1.0 million order for surface condensers for an HVAC application

• Revenue of $20.2 million up 21%, driven by defense and refining industry sales
• Orders increased to $20.9 million including $11.4 million from the refining industry
• Backlog at quarter-end was $235.9 million; 80% of backlog was for the defense industry; Added space industry to backlog with acquisition of Barber Nichols
• Profits and margins heavily impacted by product mix