Graham Corp. (GHM) said its third-quarter net income was $0.76 million or $0.08 per share, a decline of 79.8% compared with $3.79 million or $0.37 per share in the same period last year.
Net sales for the third quarter were $12.17 million, a decline of 50.7% compared with $24.7 million in the third quarter of the fiscal year which ended March 31, 2009. On average, 4 analysts polled by Thomson Reuters expected earnings per share of $0.07 on revenues of $13.74 million for the quarter. Analysts' estimate typically excludes one-time items.
For the fiscal year 2010, the company anticipates revenue to range between $60 million and $63 million and expects to be profitable in the fourth quarter.
Looking forward to fiscal 2011, Graham does not expect revenue to begin to grow again until the second half of the year, as it will continue to be impacted by the low level of orders it saw during the past year as well as the lengthened delivery dates on some of our more recent orders. However, the company does expect to be profitable in each of the first two quarters of fiscal 2011.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.