Gencor reports Q1 FY2022 net loss of $0.3M vs net income of $1.6M YoY; backlog rises to $58M

GENCOR INDUSTRIES INC

2022-Q1 EPS reported -$0.02 revenue$20,106,000

Net loss $274,000 ($0.02 per share) vs net income $1.5M ($0.11 per share) in prior year.
Net revenue $20.1M (+6% YoY); gross margin improved to 18.4% from 15.7%.
Backlog $58.0M, up 81% from $32.1M a year ago, citing infrastructure bill optimism.
Cash and marketable securities $116.9M; no debt outstanding.
Operating loss $(1,043,000) modestly improved from $(1,058,000); higher expenses offset revenue.

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