Perma-Pipe Q4 net income $3.2M on $36.4M revenue; FY revenue up 3% to $142.6M

Perma-Pipe International Holdings, Inc.

Q4 net sales $36.4M (-$2.7M YoY); net income $3.2M (+$0.2M YoY) with gross margin improving to 28%.
FY2022 net sales $142.6M (+$4.0M YoY); net income $5.9M (-$0.1M YoY) on $0.9M pension plan termination charge.
Backlog $38.5M at Jan 31, 2023; pre-tax income before pension charge increased 25% YoY on improved margins.
Approved JV with Gulf Insulation Group (GIG) to pursue Saudi Arabian projects; UAE operations relocating to Abu Dhabi.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Perma-Pipe International Holdings, Inc. reported financial results for fiscal fourth quarter and 2022 fiscal year ended January 31, 2023.

Period: fiscal fourth quarter and 2022 fiscal year ended January 31, 2023
Result: reported results

Exact text from the filing

On April 27, 2023, Perma-Pipe International Holdings, Inc. issued a press release announcing its financial results for its fiscal fourth quarter and 2022 fiscal year ended January 31, 2023.

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Source: SEC EDGAR

accession 0001437749-23-011366

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