Overview
Aerospace and industrial systems firm's fiscal Q3 sales fell 22% yr/yr
Net income for fiscal Q3 dropped significantly due to lower sales and higher expenses
Company's sales backlog rose 12% to $69.7 mln, driven by new contracts
Outlook
Company sees increased sales backlog positioning for future growth
Result Drivers
SALES DECLINE - Net sales fell 22% due to decreases in sterilizer systems and environmental testing systems
BACKLOG INCREASE - Sales backlog rose 12% to $69.7 mln, driven by $20 mln in new contract awards
GROSS MARGIN IMPACT - Gross margin declined due to lower-margin aeromedical center construction revenue
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
$12.69 mln
Q3 EPS
$0
Q3 Net Income
$178,000
Q3 Operating Income
$879,000
Q3 Operating Margin
6.90%
Press Release: ID:nGNXM93w0
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)