Gorman-Rupp (GRC) Misses Q3 EPS by 8c
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Gorman-Rupp Reports Third Quarter 2015 Financial Results and Announces Cash Dividend Increase
October 23, 2015 6:45 AM EDTMANSFIELD, Ohio--(BUSINESS WIRE)-- The Gorman-Rupp Company (NYSE MKT: GRC) reports financial results for the third quarter and nine months ended September 30, 2015.
Net sales during the third quarter were $104.2 million compared to a record $110.2 million during the third quarter of 2014. Domestic sales decreased 7.9% or $6.2 million while international sales were comparable between periods as they increased $237,000. Sales in the water end markets decreased 2.9% or $2.2 million and sales in non-water end markets decreased 10.8% or $3.8 million during the quarter. Of the total $5.9 million decrease in net sales in the third quarter, $1.7 million or 28.8% of the... More
