PMFG, Inc. (PMFG) Posts Q1 Loss of 15c/Share

PMFG, Inc. (NASDAQ: PMFG) reported Q3 EPS of ($0.15), $0.19 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $32.3 million versus the consensus estimate of $38.97 million.

Net bookings totaled $38.8 million and $111.0 million during the three and nine month periods ended March 29, 2014, respectively. This compares to net bookings of $34.8 million and $87.2 million for the three and nine month periods ended March 30, 2013. Higher bookings of separation and filtration equipment and environmental systems equipment contributed to the year to date growth in net bookings when compared to the prior year. The increase in bookings for separation and filtration equipment is being driven by the growth in separation equipment to be utilized in the nuclear power generation facilities, separation and filtration equipment utilized in both natural gas infrastructure and oil/petrochemical producing and refining, as well as oily water separation equipment. The EMEA region, which has shown sluggish demand over recent periods, contributed approximately 40% of the year over year growth in net bookings

The backlog at March 29, 2014 was $107.2 million, including $3.0 million acquired in the CCA transaction, compared to approximately $84.2 million at the end of fiscal 2013. The Company estimates that approximately 90 percent of the backlog amount at the end of December will be recognized as revenue over the next 12 months.

For earnings history and earnings-related data on PMFG, Inc. (PMFG) click here.

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