Graham Corp. Presents at Sidoti Emerging Growth Institutional Investor Forum, Mar-18-2013 03:35 PM. Venue: The Grand Hyatt Hotel, New York, New York, United States. Speakers: James R. Lines, Chief Executive Officer, President and Executive Director.

Graham Corp. Presents at 25th Annual ROTH Conference, Mar-18-2013 12:00 PM. Venue: The Ritz-Carlton, 1 Ritz Carlton Drive, Dana Point, Laguna Niguel, California, United States. Speakers: Jeffrey F. Glajch, Chief Financial Officer and Vice President of Finance & Administration.

Graham Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2012. For the quarter, the company reported net sales of $25,633,000 compared to $24,329,000 a year ago. Operating profit was $3,940,000 compared to $2,642,000 a year ago. Excluding the $975,000 reserve reversal, adjusted operating profit was $3.0 million, or 11.6% of sales. Income before income taxes was $3,934,000 compared to $2,599,000 a year ago. Net income was $3,047,000 or $0.30 per basic and diluted share, compared to $1,640,000 or $0.16 per basic and diluted share, a year ago. EBITDA was $4,460,000 compared to $3,167,000 a year ago. Excluding a $975,000, or $0.10 per diluted share, benefit associated with the reversal of a reserve related to the company's wholly-owned subsidiary, Energy Steel, net income increased 26.3% to $2.1 million, or $0.21 per diluted share, over the prior-year period on just a 5% increase in sales, reflecting solid operating leverage. Cash flow provided by operations was $8.7 million compared with $7.5 million in the third quarter of fiscal 2012. The increase in cash provided by operations was primarily related to improvements in working capital requirements. Capital expenditures were $0.4 million in the third quarter of fiscal 2013 compared with $1.1 million in the third quarter of fiscal 2012. For the year to date, the company reported net sales of $74,068,000 compared to $82,936,000 a year ago. Operating profit was $9,569,000 compared to $15,542,000 a year ago. Income before income taxes was $9,878,000 compared to $15,330,000 a year ago. Net income was $7,052,000 or $0.70 per basic and diluted share, compared to $10,124,000 or $1.01 per diluted share, a year ago. Net cash provided used by operating activities was $14,948,000 compared to $3,914,000 a year ago. Purchase of property, plant and equipment was $971,000 compared to $2,621,000 a year ago. EBITDA was $11,129,000 compared to $17,002,000 a year ago. The company provided earnings guidance for the full year of 2013. The company adjusted its expectations for full year fiscal 2013 revenue to be between $102.5 million and $107.5 million while expectations regarding gross margin for the year remain unchanged at 29% to 31%. The company is expecting its full year fiscal 2013 tax rate to be in the 29% to 30% range. This includes the expected effect of the recent extension of the R&D tax credit, which will impact the fourth quarter of fiscal 2013. Capital expenditures are expected to be approximately $1.5 million to $2.0 million.