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PMFG, Inc. announced that its Board of Directors has or will implement several changes in the Company's governance and executive compensation-related practices. The changes resulted from the Board's evaluation of recent input from certain of the Company's stockholders, as well as various shareholder service organizations. Effective May 8, 2013, Mr. Sherrill Stone, Chairman of the Board, ceased to be a member of the Company's Audit, Compensation, and Nominating and Corporate Governance Committees. Mr. Stone voluntarily resigned from the standing committees to address concerns raised by Institutional Shareholder Services, which designated him as an "Affiliated Outside Director" due to his former role as the Company's Chief Executive Officer. Mr. Stone will retain his role as Chairman of the Board and will continue to serve as a member of the Board.

PMFG, Inc. announced earnings results for the third quarter and nine months ended March 30, 2013. For the quarter, the company reported revenue of $34,970,000 against $35,498,000 a year ago. Operating income was $1,022,000 against $1,212,000 a year ago. Income before income taxes was $853,000 against $728,000 a year ago. Net earnings were $697,000 against $1,013,000 a year ago. Net earnings attributable to the company were $545,000 against $1,028,000 a year ago. Diluted earnings per share were $0.03 against $0.05 a year ago. Adjusted EBITDA net earnings were $697,000 against $1,242,000 a year ago. Adjusted EBITDA was $1,518,000 against $2,007,000 a year ago. Non-GAAP income before income taxes was $853,000 against $1,075,000 a year ago. Non-GAAP net earnings attributable to the company were $545,000 against $1,257,000 a year ago. Non-GAAP diluted earnings per share were $0.03 against $0.06 a year ago. For the nine months, the company reported revenue of $99,399,000 against $102,307,000 a year ago. Operating income was $2,342,000 against $1,043,000 a year ago. Income before income taxes was $1,653,000 against loss before income taxes of $939,000 a year ago. Net earnings were $1,286,000 against net loss of $115,000 a year ago. Net earnings attributable to the company were $702,000 against net loss of $51,000 a year ago. Diluted earnings per share were $0.03 against $0.00 a year ago. Adjusted EBITDA net earnings were $1,478,000 against $1,499,000 a year ago. Adjusted EBITDA was $4,304,000 against $4,604,000 a year ago. Non-GAAP operating income was $2,342,000 against $3,141,000 a year ago. Non-GAAP income before income taxes was $1,944,000 against $1,506,000 a year ago. Non-GAAP net earnings attributable to the company were $894,000 against $1,563,000 a year ago. Non-GAAP diluted earnings per share were $0.04 against $0.08 a year ago. Net cash provided by operating activities, improved to $9.8 million compared to $9.5 million in fiscal year 2012. The gross margin percentage increased 210 basis points over the last year to 30.7% in the third quarter of fiscal 2013 compared to 28.6% in the prior year. The company did not expect to maintain the level of margins it realized in the first 2 quarters of the fiscal year. Full year gross margin is still expected to be in the range of 32% to 34% range and above long-term expected average of 30% to 32%. The outlook for the balance of this fiscal year remains essentially unchanged and it continue to expect fiscal year 2013 consolidated revenues to be roughly flat in comparison to fiscal year 2012.

PMFG, Inc. announced that they will report Q3, 2013 results at 9:00 AM, Eastern Standard Time on May 09, 2013

PMFG, Inc., Q3 2013 Earnings Call, May 09, 2013

PMFG, Inc. announced that it has been awarded a contract with a value of approximately $4.1 million for separation equipment. The equipment is for LNG applications in the Gulf Coast region of the United States. The project consists of multiple units of the Company's proprietary Ultra(R) filter/separators to be used in compressor station protection and liquefaction processes. The revenue will be recognized across both fiscal years 2013 and 2014.