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BATAVIA, NY, November 8, 2018 – 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 second quarter and six months ended September 30, 2018. Graham’s current fiscal year ends March 31, 2019 (“fiscal 2019”).
Net sales in the second quarter of fiscal 2019 recovered 24% to $21.4 million from $17.2 million in the second quarter of the fiscal year ended March 31, 2018 (“fiscal 2018”). Net income in the fiscal 2019 second quarter was $1.8 million, or $0.19 per diluted share, compared with breakeven net income and EPS in the prior-year second quarter. Graham believes that the results from the prior year’s quarter represented the cycle bottom.
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