On Friday, the Gorman-Rupp Company (NYSE: GRC) reported financial results for the third quarter and nine months ended September 30.
Third Quarter 2017 Highlights:
- Current quarter earnings per share were $0.22 compared to $0.27 per share for the third quarter of last year
- Third quarter of 2017 included non-cash impairment charges of $0.10 per share and a non-cash pension settlement charge of $0.01 per share
- Third quarter of 2016 included a gain on the sale of property, plant and equipment of $0.03 per share
- Net sales increased 2.9% or $2.6 million. Excluding the PCCP project, net sales increased 4.4% or $4.0 million.
- Incoming orders increased 17% compared to the third quarter of 2016
- Net sales during the third quarter of 2017 were $94.0 million compared to $91.3 million during the third quarter of 2016, an increase of 2.9% or $2.6 million.
Share value has increased 5% in 2017. For the entire press release, visit this location online.
Source: Press release
