Perma-Pipe Q4 net sales $39.1M, net income $3.0M; FY net income $6.1M vs loss prior year

Perma-Pipe International Holdings, Inc.

Q4 net sales $39.1M (+84% YoY); net income $3.0M vs loss of ($2.5M) YoY.
FY2021 net sales $138.6M (+64% YoY); net income $6.1M vs loss of ($7.6M) in FY2020.
Gross profit margin improved to 25% (Q4) and 24% (FY) from 11% and 13% respectively YoY.
Backlog $39.3M at Jan 31, 2022; share repurchase program commenced in Oct 2021.
Sale-leaseback of TN property and extension of credit agreement enhanced liquidity.

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