Perma-Pipe International Holdings, Inc. Announces Drop In Q2 Bottom Line

Perma-Pipe International Holdings

22.69 USD -1.42%

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(RTTNews) - Perma-Pipe International Holdings, Inc. (PPIH) revealed a profit for second quarter that Dropped, from the same period last year

The company's bottom line came in at $0.851 million, or $0.10 per share. This compares with $3.289 million, or $0.40 per share, last year.

The company's revenue for the period rose 27.7% to $47.902 million from $37.513 million last year.

Perma-Pipe International Holdings, Inc. earnings at a glance (GAAP) :

-Earnings: $0.851 Mln. vs. $3.289 Mln. last year. -EPS: $0.10 vs. $0.40 last year. -Revenue: $47.902 Mln vs. $37.513 Mln last year.

The decrease in the second-quarter net income reflects higher payroll expenses in connection with a one-time charge of $2.1 million due to an acceleration of certain executive compensation as a result of a departure from the organization.

PPIH was down by 12.03% at $27.27 on the Nasdaq.