Perma-Pipe International Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended July 31, 2023
September 15, 2023 at 02:49 am IST
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Perma-Pipe International Holdings, Inc. reported earnings results for the second quarter and six months ended July 31, 2023. For the second quarter, the company reported sales was USD 35.14 million compared to USD 37 million a year ago. Net income was USD 1.02 million compared to USD 1.87 million a year ago. Basic earnings per share from continuing operations was USD 0.13 compared to USD 0.23 a year ago. Diluted earnings per share from continuing operations was USD 0.13 compared to USD 0.23 a year ago.
For the six months, sales was USD 64.8 million compared to USD 68.23 million a year ago. Net loss was USD 0.1 million compared to net income of USD 0.983 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.12 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to diluted earnings per share from continuing operations of USD 0.12 a year ago.
Perma-Pipe International Holdings, Inc. is a global engineered pipe services company offering core competencies in anti-corrosion coatings, insulation solutions, containment systems, leak detection systems, engineering support, field service, and custom fabrication. The Company engineers, designs, manufactures and sells specialty piping systems and leak detection systems. Its specialty piping systems include insulated and jacketed district heating and cooling piping systems for efficient energy distribution from central energy plants to multiple locations; primary and secondary containment piping systems for transporting chemicals, hazardous fluids and petroleum products; the coating and/or insulation of oil and gas gathering and transmission pipelines, and liquid and powder based anti-corrosion coatings applied both to the external and internal surfaces of steel pipe. The Company's leak detection systems are sold with its piping systems or on a stand-alone basis.