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BATAVIA, NY, January 30, 2019 – 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 third quarter and nine months ended December 31, 2018. Graham’s current fiscal year ends March 31, 2019 (“fiscal 2019”).
Net sales in the third quarter of fiscal 2019 were $17.2 million, nearly equal to the third quarter of the fiscal year ended March 31, 2018 (“fiscal 2018”). Net income and diluted earnings per share (“EPS”) in the fiscal 2019 third quarter were $95,000 and $0.01, respectively. Net loss in the fiscal 2018 third quarter was $11.6 million, or $1.19 per diluted share. Excluding non-cash charges for goodwill and intangible asset impairments as well as other related charges and the impact of the tax reform legislation passed in December 2017, adjusted net income and adjusted EPS for the third quarter of fiscal 2018 were breakeven.
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