Fri, Jun 28, 12:31 PM (71 days ago)
Graham Corporation's 10-K/A Amendment No. 1 was filed to include the conformed signature of Deloitte & Touche LLP in the audit report that was omitted in the original filing. The amendment does not modify any financial or other information from the original filing. Key Financials: - **Revenue:** Increased to $185.5 million in FY2024 from $157.1 million in FY2023. - **Net Income:** Rose to $4.6 million in FY2024 from $0.4 million in FY2023. - **Operating Income:** Improved to $6.9 million in FY2024 from $1.3 million in FY2023. - **Earnings Per Share:** Increased to $0.42 in FY2024 from $0.03 in FY2023. - **Operating Expenses:** Increased to $32.2 million in FY2024 from $23.1 million in FY2023. Strategic Overview: - Acquired P3 Technologies, LLC to diversify market and product offerings. - Focus on defense and space industries, with 77% of revenue recognized over time. Future Outlook: - Expecting continued growth with significant performance obligations of $390.9 million. - Strategic acquisitions to enhance technological capabilities. Risk Factors: - Legal proceedings and potential claims, though not expected to materially impact financials. - Internal control improvements following a whistleblower investigation at GIPL. Financial Condition: - Strong balance sheet with $16.9 million in cash and cash equivalents. - Total assets increased to $233.9 million from $203.9 million. Market Position: - Strengthened by acquisitions and a focus on high-growth sectors like defense and space.