Greystone Logistics Q3 net income $0.02/shr; gross margin drops to 9.7% from 18.1% YoY

GREYSTONE LOGISTICS, INC.

Nine-month net income available to common: $3.04M ($0.11/shr) vs $2.37M ($0.08/shr) prior year.
Three-month net income available to common: $452K ($0.02/shr) vs $633K ($0.02/shr) prior year.
Gross margin fell to 9.7% (sales $53.1M) from 18.1% ($47.6M) due to inflation, raw material costs, labor shortages.
EBITDA for nine months was $8.24M vs $9.39M prior year.
CEO cites growing demand, new products at Modex show; two large injection machines on order and contract manufacturing in Mexico.

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