Gencor Q2 FY2022: revenue $30.7M (+43.6% YoY); net income drops to $0.4M from $2.3M

GENCOR INDUSTRIES INC

2022-Q2 EPS reported $0.01 revenue$50,760,000

Revenue for quarter ended March 31, 2022: $30.7M vs $21.4M YoY; gross margin 20.2% vs 28.8%.
Net income $0.4M ($0.03 diluted EPS) vs $2.3M ($0.16) YoY; operating income improved to $1.9M from $1.2M.
Non-operating expense of $1.3M due to marketable securities losses vs $1.6M income prior year.
Six-month revenue $50.8M (+25.9% YoY); net income $0.2M ($0.01 diluted) vs $3.8M ($0.26).
Backlog $44.9M vs $42.6M; cash $117.1M, no debt.

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