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

Reuters
Dec 09
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

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Revenue

$18.80 mln

Q4 Net Income

$1.90 mln

Q4 Operating Income

-$200,000

Press Release: ID:nGNX6435gz

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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