secwatch.observer — SEC 8-K summary
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Issuer:     Perma-Pipe International Holdings, Inc. (PPIH)
CIK:        0000914122
Form:       8-K
Filed at:   2023-09-15T23:59:59+00:00
Accession:  0001437749-23-025921
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Perma-Pipe Q2 net sales $35.1M (-5% YoY); net income $1.0M vs $1.9M
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- Net sales $35.1M, down from $37.0M in Q2 2022; gross profit $9.5M (27% of sales).
- Income before taxes $2.1M vs $2.8M; effective tax rate 45.2% due to U.S. valuation allowance.
- Backlog grew to $63.9M; Saudi JV commenced June 1; Eastern Canada expansion near completion.
- One-time $0.5M tax expense from pension plan termination; project schedules slipped.
- Net income attributable to common stock $1.0M (~$0.10 EPS) vs $1.9M in prior year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/914122/000143774923025921/0001437749-23-025921-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/914122/000143774923025921/ppih20230620_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-025921

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer