Perma-Pipe International Holdings Inc

NASDAQ:PPIHUnited States

Apr 26, 2024

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• -- Earnings Flash (PPIH) PERMA-PIPE INTERNATIONAL HOLDINGS Posts Q4 Revenue $40.2M, from 10:09AM ET on Friday Apr 26, 2024 by MT Newswires

  10:09AM ET on Friday Apr 26, 2024 by MT Newswires
  Companies Mentioned: PPIH
  10:09 AM EDT, 04/26/2024 (MT Newswires) -- ...

• Perma-Pipe International Holdings, Inc. Announces Fourth Quarter and Fiscal 2023 Financial Results, from 9:26AM ET on Friday Apr 26, 2024 by Business Wire

  9:26AM ET on Friday Apr 26, 2024 by Business Wire
  Companies Mentioned: PPIH

  Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the fourth quarter and 2023 fiscal year ended January 31, 2024.

  "Net sales for the fourth quarter were $40.2 million, an increase of $3.8 million as compared to the same quarter last year, and net income of $8.6 million was an increase of $5.4 million compared to $3.2 million in the same quarter of 2022. For the year ended January 31, 2024, net sales of $150.7 million represents an increase of $8.1 million or 6%, as compared to net sales of $142.6 million in the prior year. The resulting net income of $10.5 million was an increase of $4.6 million or 78%, as compared to net income of $5.9 million in the prior year. This was the result of increased net sales during the year, along with a favorable tax benefit of $5.9 million due to a partial release of a valuation allowance attributable to net operating loss carryforwards, partially offset by a one-time charge of $0.7 million relating to a litigation matter that arose relating to certain projects that were executed between 2007 and 2011," noted President and CEO David Mansfield.

• *DJ Perma-Pipe Intl 4Q Sales $40.2M >PPIH, from 9:26AM ET on Friday Apr 26, 2024 by Dow Jones

  9:26AM ET on Friday Apr 26, 2024 by Dow Jones
  Companies Mentioned: PPIH

• Perma-Pipe International Holdings, Inc. Announces Fourth Quarter and Fiscal 2023 Financial Results, from 9:26AM ET on Friday Apr 26, 2024 by Dow Jones

  9:26AM ET on Friday Apr 26, 2024 by Dow Jones
  Companies Mentioned: PPIH
  
  Company operates; (xiv) the Company's ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xv) reductions or cancellations of orders included in the Company's backlog; (xvi) risks and uncertainties specific to the Company's international business operations; (xvii) the Company's ability to attract and retain senior management and key personnel; (xviii) the Company's ability to achieve the expected benefits of its growth initiatives; (xix) the impact of pandemics and other public health crises on the Company and its operations; and (xx) the impact of cybersecurity threats on the Company's information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com.)