Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) revealed Year-to-Date financial data screening
On Friday, Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) shares price traded between $40.26 and $9.23 during the last trading session a downbeat with -1.36% at $9.06. The shares recorded a trading volume 8297 shares as compared to its average volume of 25.06K shares. Over the one year trading period, the stock has a peak price of $10.14 and its down is recorded at $7.87.
Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) reported recently financial results for the second quarter and six months ended July 31, 2019.
Second Quarter Fiscal 2019 Results
Net sales increased $4.3M to $36.7M in the current quarter, from $32.3M in the previous year quarter.
Gross profit increased to $9.7M or 26.3% of net sales in the current quarter from $5.9M, or 18.2% of net sales, in the previous year quarter. This 64% increase in gross profit was driven by improved pricing, product mix and cost reduction initiatives.
General and administrative expenses increased to $4.6M in the current quarter, contrast to $3.9M in the previous year quarter. This was due primarily to increased compensation expenses. Selling expenses remained relatively flat at $1.4M in the current quarter, contrast to $1.3M in the previous year quarter.
Net interest expense reduced to $0.2M in the current quarter from $0.3M in the prior-year quarter Because of lower borrowings.
Income from operations before income taxes increased by $3.1M to $3.5M in the current quarter from $0.4M in the previous year quarter. This increase was Because of increased revenue and improved margins.
Year-to-Date July 31, 2019 Results
Net sales reduced $0.3M to $60.9M in the current year-to-date, from $61.2M in the previous year year-to-date. The slight decrease resulted from lower revenue in the Middle East offset by increased revenue from our leak detection systems.
Gross profit increased to $14.4M or 23.6% of net sales in the current year-to-date from $10.1M or 16.5% of net sales, in the previous year year-to-date. This 42% increase in gross profit was driven by improved pricing, product mix and cost reduction initiatives.
General and administrative expenses increased to $9.0M in the current year-to-date, contrast to $7.9M in the previous year year-to-date. This was Because of increased compensation expenses and loss on disposal of an asset, partially offset by collection of a before reserved bad debt. Selling expenses remained relatively flat at $2.7M in the current year-to-date, contrast to $2.5M in the previous year year-to-date.
Net interest expense reduced to $0.4M in the current year-to-date from $0.6M in the prior-year year-to-date Because of lower borrowings.
Income from operations before income taxes increased $3.1M to $2.3M in the current year-to-date from a loss of $0.8M in the previous year year-to-date.
Perma-Pipe International Holdings, Inc.’s (PPIH) stock price showed strong performance of 3.01% in last seven days, switched down -5.38% in last thirty days and it rose 0.84% in last one year. It has 8.14M of outstanding shares and its shares float measured at 6.83.
Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together