Gencor Q4 revenue up 92% to $20M; FY net income $5.8M; backlog doubles to $53M on infrastructure bill

GENCOR INDUSTRIES INC

Q4 revenue surged 91.7% to $20.0M; Q4 net loss narrowed to ($0.4M) from ($0.6M).
FY2021 revenue $85.3M (+10.1%); net income $5.8M ($0.40 basic EPS) vs $5.5M ($0.38).
Gross margin fell to 21.3% from 24.5%, hurt by unabsorbed labor and steel inflation (~200%).
Backlog reached $53.0M at Dec 1, 2021, more than double the prior year $24.9M.
Company holds $118.2M cash/marketable securities, no debt; working capital $155.4M.

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