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 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.