Graham (NYSE: GHM) reported Q1 EPS of $0.23, $0.11 better than the analyst estimate of $0.12. Revenue for the quarter came in at $27.6 million versus the consensus estimate of $25.07 million.

Fiscal 2016 Guidance Reiterated; Long-Term Outlook Remains Intact

For fiscal 2016, Graham continues to expect sales to be in the range of $95 million to $105 million. Gross margin for fiscal 2016 is expected to be between 26% and 28%, resulting from anticipated lower production facility utilization and increased pricing pressure. SG&A expense as a percent of sales is expected to be between 17% and 18% for fiscal 2016. Graham expects its fiscal 2016 full year effective tax rate to be approximately 32% to 33%.

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