Thu, May 1, 8:14 PM (21 days ago)
**Perma-Pipe International Holdings, Inc. (PPIH, Ticker: PPIH)** **Financial Performance:** - **Revenue:** $158.4 million (2025) vs. $150.7 million (2024), increase of $7.7 million. - **Gross Profit:** $53.2 million (34% of net sales) in 2025 vs. $41.5 million (28% of net sales) in 2024. - **Net Income:** $8.98 million (2025) vs. $10.47 million (2024). - **Earnings per Share (EPS):** $1.13 (2025) vs. $1.31 (2024). **Operating Expenses:** - **General and Administrative:** $28.0 million (2025) vs. $22.6 million (2024). - **Selling Expenses:** $4.9 million (2025) vs. $5.5 million (2024). **Financial Condition:** - **Cash and Cash Equivalents:** $15.7 million (2025) vs. $5.8 million (2024). - **Working Capital:** $54.7 million (2025) vs. $41.1 million (2024). - **Debt:** $24.5 million (2025) vs. $25.7 million (2024). **Market Position Changes:** - **Backlog:** $138.1 million (2025) vs. $68.4 million (2024). - **Customer Base:** Diverse industrially and geographically, with no single customer accounting for more than 10% of net sales or accounts receivable. **Strategic Overview:** - **Products:** Specialty piping systems and leak detection systems. - **Operations:** Facilities in the U.S., Canada, Middle East, and other regions. - **Future Outlook:** Focus on expanding market presence and strategic investments. **Risk Factors:** - **Market Risks:** Fluctuations in oil and gas prices, raw material supply, and government spending. - **Financial Risks:** Compliance with debt covenants, maintaining profitability, and collecting receivables. - **Business Risks:** Competition, product defects, and international regulations. **Future Outlook:** - **Growth Initiatives:** Expanding market presence, strategic investments, and potential acquisitions. - **Cybersecurity:** Implementing measures to protect information systems and data. **Note:** This summary is based on the provided text and does not include all details from the original document.