Graham steady in 2Q
Graham Corp. reported second-quarter net income was unchanged from a year ago while sales increased by 4 percent.
The Batavia-based manufacturer (NYSE: GHM) of equipment to the oil, petrochemical and power industries, reported profits of $4.4 million, or 43 cents per share.
Net sales of $23.9 million were up $800,000 from $23.1 million year-over-year.
Graham officials cited the rapid changes in oil prices as having an impact on orders. International sales account for 37 percent of sales, up from 33 percent while domestic orders were down to 63 percent from 67 percent in the quarter bad credit cash loan. The company said 59 percent of orders in first half of fiscal 2009 from international markets, primarily Asia.
For the remainder of the year, Graham still anticipates revenue growth in the 15 to 20 percent range though that figure may trend toward the lower end.
Filed under: economics by Finance Boss