Greystone Logistics FY2021 EPS $0.11, down from $0.15; sales fall 15% to $64.9M

GREYSTONE LOGISTICS, INC.

2022-Q1 EPS reported $0.09 revenue$14,774,399

Net income available to common stockholders $3.03M ($0.11 EPS), down from $4.30M ($0.15 EPS) prior year.
Sales $64.9M, down 15% from $76.2M due to customer providing own raw materials for certain pallets.
EBITDA $12.08M vs $12.15M; total net income $3.63M, prior year included $1.4M valuation allowance benefit.
Debt reduced by $5.87M; $3.03M PPP loan forgiven in June 2021, increasing equity.
CEO expects Q1 FY2022 operational challenges from COVID/labor/plastic costs, but strong pallet demand supports positive rest of year.

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