Perma-Pipe Q4 net income $8.6M; FY net income $10.5M; backlog $68.4M, up 78%

Perma-Pipe International Holdings, Inc.

Q4 net sales $40.2M, up from $36.4M; FY net sales $150.7M, up 6% from $142.6M.
FY net income $10.5M (+78% YoY) includes $5.9M tax benefit from valuation allowance release.
Backlog $68.4M vs $38.5M prior year; driven by Saudi Arabia, India, UAE infrastructure spending.
Joint venture exceeded expectations; company planning expansion into Qatar via Tawteen program.
One-time charges: $0.7M litigation settlement; pension plan termination costs included in other expense.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Perma-Pipe International Holdings, Inc. reported its fiscal fourth quarter and 2023 fiscal year ended January 31, 2024 results: revenue $ 40.2 million for the quarter and $ 150.7 million for the year, net income $ 8.6 million for the quarter and $ 10.5 million for the year.

Period: its fiscal fourth quarter and 2023 fiscal year ended January 31, 2024
Revenue: $ 40.2 million for the quarter and $ 150.7 million for the year
Net income: $ 8.6 million for the quarter and $ 10.5 million for the year
Result: reported results

Exact text from the filing

(847) 929-1200 investor@permapipe.com Perma-Pipe International Holdings, Inc. Announces Fourth Quarter and Fiscal 2023 Financial Results • The Company generated net sales of $ 40.2 million for the quarter and $ 150.7 million for the year • Income before income taxes of $ 3.2 million for the quarter and $ 9.9 million for the year • Net income of $ 8.6 million for

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Source: SEC EDGAR

accession 0001437749-24-013322

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