{"id":531067,"date":"2021-08-24T16:26:01","date_gmt":"2021-08-24T20:26:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/graham-corporation-awarded-over-20-million-in-orders-across-diverse-industries-quarter-to-date\/"},"modified":"2021-08-24T16:26:01","modified_gmt":"2021-08-24T20:26:01","slug":"graham-corporation-awarded-over-20-million-in-orders-across-diverse-industries-quarter-to-date","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/graham-corporation-awarded-over-20-million-in-orders-across-diverse-industries-quarter-to-date\/","title":{"rendered":"Graham Corporation Awarded Over $20 Million in Orders Across Diverse Industries Quarter-to-Date"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistcircle { list-style-type: circle }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Graham Corporation Awarded Over $20 Million in Orders Across Diverse Industries Quarter-to-Date<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><b><i>Order volume developing momentum in second quarter fiscal 2022<\/i><\/b><\/li>\n<li><b><i>Approximately $10.0 million in awards were related to the Company\u2019s defense\/space industry platform<\/i><\/b>\n<ul class=\"bwlistcircle\">\n<li><i>Project wins included $1.2 million for the design and development of specialized cooling pumps for Space applications<\/i><\/li>\n<\/ul>\n<\/li>\n<li><b><i>Approximately $6.9 million of orders were related to the Company\u2019s energy and chemical\/petrochemical industry platform with another $1.0 million in advanced energy<\/i><\/b><\/li>\n<li><b><i>Also received a $1.0 million order for surface condensers for an HVAC application<\/i><\/b><\/li>\n<\/ul>\n<p>BATAVIA, N.Y.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.graham-mfg.com%2F&amp;esheet=52481185&amp;newsitemid=20210824005686&amp;lan=en-US&amp;anchor=Graham+Corporation&amp;index=1&amp;md5=639f8de432aba16b4a3d31fc464cd2dd\">Graham Corporation<\/a> (NYSE: GHM), a global business that designs, manufactures and sells critical equipment for the defense\/space, energy and chemical\/petrochemical industries, today announced that it has been awarded over $20 million in orders to date in its second quarter of fiscal 2022, which ends September 30, 2021. The orders spanned the Company\u2019s key defense\/space, energy and chemical\/petrochemical markets, as well as included advanced energy applications and HVAC.\n<\/p>\n<p>\nDaniel J. Thoren, President and COO, commented, \u201cWe are seeing building demand for our technological expertise in specialty turbomachinery in the defense\/space industry which we believe is key to our growth strategy. While several of the wins are for new product design and development, we also have received orders for replacement parts and overhauls demonstrating we are now supporting the full lifecycle of our products. We believe this is confirmation of our strategy to leverage our strong engineering expertise for critical applications and grow our market presence in industries with solid secular growth trends.\u201d\n<\/p>\n<p>\nHe added, \u201cIt is encouraging to see order volume in our traditional refining and chemical\/petrochemical markets improve even modestly after several quarters of weakness throughout last year. Meanwhile, we are playing an important part in our customer\u2019s advanced energy technology development for hydrogen applications with our heat exchange and turbomachinery products.\u201d\n<\/p>\n<p>\nThe defense industry awards were $2.6 million in orders for both replacement parts of existing programs and new product development for advancing programs serving unmanned undersea vehicles. The Company also received $5.2 million in awards to support submarine ejection systems.\n<\/p>\n<p>\nApproximately 40% of the revenue related to the approximately $20 million in awards is expected to be recognized in fiscal 2022, which ends March 31, 2022. Approximately 50% of the revenue is expected to be recognized in fiscal 2023 with the remainder expected in fiscal 2024.\n<\/p>\n<p>\nThese orders support the Company\u2019s revenue guidance for fiscal 2022, with revenue expected to be in the range of $130 million to $140 million. Approximately 45% to 50% of fiscal 2022 revenue is expected to be from the defense industry.\n<\/p>\n<p>\nMr. Thoren concluded, \u201cWhile order flow for our business can be variable given the relative size of orders we receive, we are encouraged with the momentum that appears to be building and are excited about the pipeline of opportunities that we have to pursue.\u201d\n<\/p>\n<p><b>ABOUT GRAHAM CORPORATION<br \/>\n<br \/><\/b>Graham is a global business that designs, manufactures and sells critical equipment for the defense\/space, energy and advanced energy and chemical\/petrochemical industries. The Graham and Barber-Nichols\u2019 global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenics, and turbomachinery technologies, as well as the Company\u2019s responsive and flexible service and unsurpassed quality.\n<\/p>\n<p>\nGraham routinely posts news and other important information on its website, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.graham-mfg.com&amp;esheet=52481185&amp;newsitemid=20210824005686&amp;lan=en-US&amp;anchor=www.graham-mfg.com&amp;index=2&amp;md5=aff73bd217d98972887b2ccaffe016a5\">www.graham-mfg.com<\/a>, where additional comprehensive information on Graham Corporation and its subsidiaries can be found.\n<\/p>\n<p><b>Safe Harbor Regarding Forward Looking Statements<br \/>\n<br \/><\/b>This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as \u201cexpects,\u201d \u201cestimates,\u201d \u201cconfidence,\u201d \u201cprojects,\u201d \u201ctypically,\u201d \u201coutlook,\u201d \u201canticipates,\u201d \u201cindicates\u201d, \u201cbelieves,\u201d \u201cappears,\u201d \u201ccould,\u201d \u201copportunities,\u201d \u201cseeking,\u201d \u201cplans,\u201d \u201caim,\u201d \u201cpursuit,\u201d \u201clook towards\u201d and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, expected expansion and growth opportunities within its defense and energy markets, anticipated revenue, the timing of conversion of backlog to sales, order momentum and demand for our products, market presence, profit margins, tax rates, foreign sales operations, its ability to improve cost competitiveness and productivity, customer preferences, changes in market conditions in the industries in which it operates, the effect on its business of volatility in commodities prices, including, but not limited to changes in general economic conditions and customer behavior, forecasts regarding the timing and scope of the economic recovery in its markets, its acquisition and growth strategy are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation\u2019s most recent Annual Report filed with the Securities and Exchange Commission, including under the heading entitled \u201cRisk Factors,\u201d its quarterly reports on Form 10-Q, and other filings it makes with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of Graham Corporation\u2019s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation\u2019s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210824005686r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210824005686\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210824005686\/en\/<\/a><\/span><\/p>\n<p>\nJeffrey F. Glajch<br \/>\n<br \/>Vice President &#8211; Finance and CFO<br \/>\n<br \/>Phone: (585) 343-2216<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:jglajch@graham-mfg.com\">jglajch@graham-mfg.com<\/a><\/p>\n<p>\nDeborah K. Pawlowski<br \/>\n<br \/>Kei Advisors LLC<br \/>\n<br \/>Phone: (716) 843-3908<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:dpawlowski@keiadvisors.com\">dpawlowski@keiadvisors.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Other Energy Defense Other Defense Energy Engineering Chemicals\/Plastics Aerospace Manufacturing<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210824005686\/en\/1185594\/3\/Graham_Corporation_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Graham Corporation Awarded Over $20 Million in Orders Across Diverse Industries Quarter-to-Date Order volume developing momentum in second quarter fiscal 2022 Approximately $10.0 million in awards were related to the Company\u2019s defense\/space industry platform Project wins included $1.2 million for the design and development of specialized cooling pumps for Space applications Approximately $6.9 million of orders were related to the Company\u2019s energy and chemical\/petrochemical industry platform with another $1.0 million in advanced energy Also received a $1.0 million order for surface condensers for an HVAC application BATAVIA, N.Y.&#8211;(BUSINESS WIRE)&#8211;Graham Corporation (NYSE: GHM), a global business that designs, manufactures and sells critical equipment for the defense\/space, energy and chemical\/petrochemical industries, today announced that it has been awarded over $20 million in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/graham-corporation-awarded-over-20-million-in-orders-across-diverse-industries-quarter-to-date\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Graham Corporation Awarded Over $20 Million in Orders Across Diverse Industries Quarter-to-Date&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-531067","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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