10.09.2014 12:53:44
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PMFG Q4 Loss Widens - Quick Facts
(RTTNews) - PMFG, Inc. (PMFG) Wednesday reported a wider loss for the fourth quarter, reflecting a $26.6 million non-cash impairment charge related to goodwill and intangible assets acquired in prior acquisitions.
The net loss widened to $30.0 million or $1.42 per share from $2.8 million or $0.13 per share a year ago. Excluding certain items, net loss was $5.5 million or $0.26 per share. On average, three analysts polled by Thomson Reuters expected the company to report a loss of $0.04 per share for the quarter. Analysts' estimates typically exclude special items.
Quarterly revenues rose by 15.1 percent to $39.7 million from $34.5 million last year, driven by the greater demand for air pollution control equipment, as well as the impact of the acquisition of CCA Combustion Solutions. Analysts expected revenues of $35.44 million.
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