Gencor Q1 fiscal 2023 net income $3.5M vs loss; revenue up 28.4% to $25.8M

GENCOR INDUSTRIES INC

2023-Q1 EPS reported $0.24 revenue$25,825,000

Net revenue $25.8M vs $20.1M YoY (+28.4%); gross margin improved to 22.5% from 18.4%.
Operating income $2.1M vs operating loss of $1.0M; net income $3.5M ($0.24 diluted EPS) vs net loss of $0.3M.
Backlog $42.5M down from $58.0M a year ago; no debt; cash & marketable securities $97.7M.
SG&A down $600K to $2.8M; product engineering costs down $452K to $897K on lower headcount.
Q1 net non-operating income $2.5M including $2.0M realized/unrealized gains on securities.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

GENCOR INDUSTRIES INC reported the quarter ended December 31, 2022 results: revenue $25,825,000, net income $3,476,000, EPS $0.24 per basic and diluted share.

Period: the quarter ended December 31, 2022
Revenue: $25,825,000
Net income: $3,476,000
EPS: $0.24 per basic and diluted share
Result: reported results

Exact text from the filing

Gencor Industries, Inc. (the “Company” or “Gencor”) (NYSE American: GENC) announced today net revenues increased 28.4% to $25,825,000 for the quarter ended December 31, 2022

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Source: SEC EDGAR

accession 0001193125-23-031387

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