Gorman-Rupp (GRC) Misses Q4 EPS by 2c

Gorman-Rupp (NYSE: GRC) reported Q4 EPS of $0.30, $0.02 worse than the analyst estimate of $0.32. Revenue for the quarter came in at $105 million versus the consensus estimate of $106.2 million.

The Company’s backlog of orders was $160.7 million at December 31, 2014 compared to $182.2 million a year ago and $170.0 million at September 30, 2014. The decrease in backlog from a year ago is principally due to record shipments during 2014, including approximately $14.4 million related to the Permanent Canal Closure Project (“PCCP”) to supply major flood control pumps to a member of a joint venture construction group for a significant New Orleans flood control project. Excluding the PCCP project, incoming orders increased 12.3% in 2014 compared to 2013. Approximately $43.2 million of the PCCP project remain in the December 31, 2014 backlog total and are expected to be shipped by the end of 2015.

For earnings history and earnings-related data on Gorman-Rupp (GRC) click here.

You May Also Be Interested In

• Gilead Sciences (GILD) Misses Q1 EPS by 288c
• Seacoast Banking Corporation of Florida (SBCF) Tops Q1 EPS by 2c
• Edwards Lifesciences (EW) Tops Q1 EPS by 2c; offers guidance