Vacuum and heat transfer equipment maker Graham Corp. (GHM) Wednesday reaffirmed its full year 2010 revenue outlook. The company also received two orders from refinery customers totaling approximately $3 million.
Consistent with its prior guidance, Graham continues to expect fiscal year 2010 revenue in the range of $60 million to $65 million and gross margin in the 33% to 35% range.
Analysts polled by Thomson Reuters currently expect full-year revenue of 63.93 million.
James Lines, President and CEO, said, "We believe that the recent robust order level and the diversity of end-user markets and geographies are encouraging signs. Because we historically have tended to lag economic recovery by nine to 18 months, we believe that sales over the next few quarters will continue to reflect the sporadic nature of order receipt that began over a year ago. However, we also believe this should be the bottom of the cycle for us, and we expect to begin to see revenue growth during the second half of fiscal 2011."
Graham's orders pertain to upgrade of an existing Graham ejector system at a U.S. refinery to expand the refiner's capability and the other is for installation of custom-engineered steam surface condensers at a large oil refinery under construction in the Middle East. Shipment of the ejector system is scheduled for the second quarter of fiscal year 2011, beginning April 1, 2010, and shipment of the condensers are slated for the fourth quarter of fiscal year 2011.
Graham's total order activity for the third quarter of fiscal 2010 was approximately $51.6 million. Such amount represents orders received from a variety of markets, including refining, chemical processing, power generation and fertilizer for projects in China, Indonesia, Thailand, India, Mexico, Saudi Arabia and the United States.
GHM is currently trading at $20.76, down $0.08 or 0.38%, on a volume of 27,542 shares on the AMEX.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.