Gencor Q4 revenue falls 10% yr/yr, net income rises helped by income tax benefit

Overview

• Gencor Q4 revenue falls 10% yr/yr to $18.8 mln

• Company reports operating due to lower margins and higher SG&A expenses

• Net income rises to $1.9 mln in Q4, aided by income tax benefit

Outlook

• Company did not provide specific future guidance

Result Drivers

• LOWER MARGINS - Reduced manufacturing overhead absorption led to lower gross profit margins

• HIGHER SG&A EXPENSES - Increased SG&A expenses contributed to operating loss

• BACKLOG DECREASE - Significant decrease in backlog from $56.2 mln to $23.6 mln

Key Details

Press Release: ID:nGNX6435gz

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