Perma-Pipe International Holdings Key Executives
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Perma-Pipe International Holdings Earnings
This section highlights Perma-Pipe International Holdings's earnings, including key dates, EPS, earnings reports, and earnings call transcripts.
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| Transcript | Quarter | Year | Date | Estimated EPS | Actual EPS |
|---|
Perma-Pipe International Holdings, Inc., together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers provides and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas gathering and transmission pipelines. The company also offers liquid and powder based anti-corrosion coatings for external and internal surfaces of steel pipe, including shapes like bends, reducers, tees, and other spools/fittings that is used in pipelines for the transportation of oil and gas products and potable water. It has operations in the United States, Canada, the Middle East, Europe, India, and internationally. The company was formerly known as MFRI, Inc. and changed its name to Perma-Pipe International Holdings, Inc. in March 2017. Perma-Pipe International Holdings, Inc. was incorporated in 1993 and is headquartered in Niles, Illinois.
$13.76
Stock Price
$109.84M
Market Cap
179
Employees
Niles, IL
Location
Financial Statements
Access annual & quarterly financial statements for Perma-Pipe International Holdings, including income statements, balance sheets, and cash flow statements..
Annual Income Statement
| Breakdown | January 31, 2024 | January 31, 2023 | January 31, 2022 | January 31, 2021 | January 31, 2020 |
|---|---|---|---|---|---|
| Revenue | $150.67M | $142.57M | $138.55M | $84.69M | $127.66M |
| Cost of Revenue | $109.21M | $104.27M | $106.02M | $73.52M | $98.62M |
| Gross Profit | $41.46M | $38.30M | $32.53M | $11.18M | $29.05M |
| Gross Profit Ratio | 27.52% | 26.86% | 23.50% | 13.20% | 22.75% |
| Research and Development Expenses | $500.00K | $700.00K | $400.00K | $300.00K | $300.00K |
| General and Administrative Expenses | $22.59M | $21.99M | $19.89M | $17.22M | $17.88M |
| Selling and Marketing Expenses | $5.51M | $5.16M | $4.53M | $5.33M | $5.23M |
| Selling General and Administrative Expenses | $28.10M | $27.16M | $24.42M | $22.56M | $23.11M |
| Other Expenses | $- | $533.00K | $1.04M | $3.98M | $1.06M |
| Operating Expenses | $28.10M | $27.16M | $24.42M | $22.56M | $23.11M |
| Cost and Expenses | $137.31M | $131.43M | $130.44M | $96.07M | $121.72M |
| Interest Income | $163.00K | $124.00K | $90.00K | $268.00K | $201.00K |
| Interest Expense | $2.43M | $2.12M | $828.00K | $381.00K | $905.00K |
| Depreciation and Amortization | $3.83M | $3.93M | $4.57M | $4.95M | $4.44M |
| EBITDA | $15.99M | $14.79M | $12.44M | $-2.17M | $5.94M |
| EBITDA Ratio | 10.61% | 8.19% | 6.61% | -8.73% | 4.65% |
| Operating Income | $13.36M | $8.03M | $4.83M | $-11.38M | $1.50M |
| Operating Income Ratio | 8.87% | 5.63% | 3.49% | -13.43% | 1.18% |
| Total Other Income Expenses Net | $-3.47M | $-1.59M | $216.00K | $3.60M | $-905.00K |
| Income Before Tax | $9.89M | $9.56M | $8.33M | $-7.78M | $5.04M |
| Income Before Tax Ratio | 6.56% | 6.70% | 6.01% | -9.18% | 3.94% |
| Income Tax Expense | $-3.32M | $3.61M | $2.27M | $-133.00K | $1.46M |
| Net Income | $10.47M | $5.95M | $6.06M | $-7.64M | $3.58M |
| Net Income Ratio | 6.95% | 4.17% | 4.38% | -9.02% | 2.80% |
| EPS | $1.31 | $0.75 | $0.75 | $-0.94 | $0.45 |
| EPS Diluted | $1.30 | $0.73 | $0.72 | $-0.94 | $0.43 |
| Weighted Average Shares Outstanding | 7.98M | 7.98M | 8.13M | 8.13M | 7.99M |
| Weighted Average Shares Outstanding Diluted | 8.07M | 8.12M | 8.42M | 8.13M | 8.28M |
| SEC Filing | Source | Source | Source | Source | Source |
| Breakdown | October 31, 2024 | July 31, 2024 | April 30, 2024 | January 31, 2024 | October 31, 2023 | July 31, 2023 | April 30, 2023 | January 31, 2023 | October 31, 2022 | July 31, 2022 | April 30, 2022 | January 31, 2022 | October 31, 2021 | July 31, 2021 | April 30, 2021 | January 31, 2021 | October 31, 2020 | July 31, 2020 | April 30, 2020 | January 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $41.56M | $37.51M | $34.32M | $40.18M | $45.69M | $35.14M | $29.66M | $36.44M | $37.90M | $37.00M | $31.22M | $39.13M | $35.20M | $39.80M | $24.42M | $21.30M | $20.29M | $20.36M | $22.74M | $32.26M |
| Cost of Revenue | $27.48M | $24.04M | $23.80M | $28.14M | $32.51M | $25.68M | $22.88M | $26.20M | $26.77M | $27.12M | $24.17M | $29.47M | $27.57M | $29.06M | $19.92M | $18.89M | $17.36M | $18.00M | $19.27M | $25.23M |
| Gross Profit | $14.09M | $13.47M | $10.52M | $12.03M | $13.18M | $9.46M | $6.77M | $10.24M | $11.13M | $9.89M | $7.05M | $9.65M | $7.63M | $10.74M | $4.50M | $2.41M | $2.94M | $2.36M | $3.47M | $7.03M |
| Gross Profit Ratio | 33.89% | 35.90% | 30.60% | 30.00% | 28.90% | 26.90% | 22.80% | 28.10% | 29.40% | 26.70% | 22.60% | 24.70% | 21.70% | 27.00% | 18.40% | 11.32% | 14.48% | 11.61% | 15.24% | 21.78% |
| Research and Development Expenses | $- | $- | $- | $500.00K | $- | $- | $- | $700.00K | $- | $- | $- | $400.00K | $- | $- | $- | $300.00K | $- | $- | $- | $300.00K |
| General and Administrative Expenses | $7.33M | $5.98M | $6.15M | $6.17M | $5.67M | $5.28M | $5.46M | $5.81M | $5.28M | $5.25M | $5.65M | $5.25M | $4.63M | $5.60M | $4.40M | $3.90M | $4.53M | $4.49M | $4.37M | $4.32M |
| Selling and Marketing Expenses | $1.17M | $1.35M | $1.24M | $1.31M | $1.47M | $1.49M | $1.24M | $1.30M | $1.31M | $1.31M | $1.24M | $1.13M | $1.30M | $1.05M | $1.04M | $1.18M | $1.17M | $1.33M | $1.65M | $1.20M |
| Selling General and Administrative Expenses | $8.50M | $7.33M | $7.38M | $7.50M | $7.14M | $6.77M | $6.70M | $7.11M | $6.59M | $6.56M | $6.89M | $6.38M | $5.94M | $6.66M | $5.45M | $5.08M | $5.70M | $5.82M | $6.02M | $5.52M |
| Other Expenses | $- | $- | $-67.00K | $-852.00K | $-502.00K | $81.00K | $72.00K | $1.00K | $-948.00K | $-64.00K | $49.00K | $47.00K | $98.00K | $457.00K | $441.00K | $311.00K | $-2.00K | $3.74M | $- | $- |
| Operating Expenses | $8.50M | $7.33M | $7.38M | $7.50M | $7.14M | $6.77M | $6.70M | $7.12M | $6.59M | $6.56M | $6.89M | $6.38M | $5.94M | $6.66M | $5.45M | $5.08M | $5.70M | $5.82M | $6.02M | $5.52M |
| Cost and Expenses | $35.98M | $31.37M | $31.19M | $35.65M | $39.65M | $32.45M | $29.58M | $33.32M | $33.37M | $33.68M | $31.06M | $35.85M | $33.51M | $35.72M | $25.36M | $23.97M | $23.06M | $23.82M | $25.29M | $30.76M |
| Interest Income | $- | $- | $- | $- | $- | $636.00K | $512.00K | $534.00K | $717.00K | $- | $- | $- | $- | $- | $- | $30.00K | $- | $- | $- | $- |
| Interest Expense | $468.00K | $514.00K | $507.00K | $641.00K | $640.00K | $636.00K | $512.00K | $534.00K | $717.00K | $500.00K | $368.00K | $112.00K | $270.00K | $268.00K | $178.00K | $238.00K | $107.00K | $118.00K | $186.00K | $292.00K |
| Depreciation and Amortization | $970.00K | $888.00K | $829.00K | $1.06M | $983.00K | $910.00K | $968.00K | $1.15M | $855.00K | $931.00K | $995.00K | $1.31M | $998.00K | $1.14M | $1.12M | $1.12M | $1.38M | $1.13M | $1.11M | $1.09M |
| EBITDA | $6.56M | $6.99M | $3.96M | $5.59M | $6.52M | $3.57M | $1.11M | $5.77M | $4.44M | $4.26M | $1.20M | $-36.00K | $2.79M | $5.68M | $622.00K | $-1.15M | $-1.39M | $1.41M | $-1.44M | $1.89M |
| EBITDA Ratio | 15.77% | 18.64% | 11.55% | 13.91% | 14.27% | 10.38% | 3.58% | 12.68% | 11.72% | 11.33% | 3.86% | 8.49% | 7.92% | 14.28% | -2.05% | -12.56% | -13.63% | 6.94% | -6.33% | 4.67% |
| Operating Income | $5.59M | $6.14M | $3.13M | $4.53M | $6.04M | $2.69M | $147.00K | $3.12M | $3.59M | $3.33M | $160.00K | $2.25M | $1.69M | $4.09M | $-941.00K | $-2.67M | $-2.76M | $-3.46M | $-2.55M | $1.51M |
| Operating Income Ratio | 13.44% | 16.37% | 9.13% | 11.28% | 13.22% | 7.66% | 0.50% | 8.56% | 9.47% | 8.99% | 0.51% | 5.76% | 4.80% | 10.27% | -3.85% | -12.56% | -13.62% | -16.97% | -11.21% | 4.67% |
| Total Other Income Expenses Net | $-518.00K | $-552.00K | $-574.00K | $-1.33M | $-1.14M | $-555.00K | $-440.00K | $14.00K | $-1.67M | $-564.00K | $-319.00K | $-64.00K | $-172.00K | $189.00K | $263.00K | $341.00K | $-109.00K | $3.62M | $-186.00K | $-293.00K |
| Income Before Tax | $5.07M | $5.59M | $2.56M | $3.22M | $4.90M | $2.14M | $-365.00K | $4.08M | $2.87M | $2.76M | $-159.00K | $3.21M | $1.52M | $4.28M | $-678.00K | $-2.33M | $-2.87M | $166.00K | $-2.74M | $1.21M |
| Income Before Tax Ratio | 12.19% | 14.90% | 7.46% | 8.02% | 10.72% | 6.08% | -1.23% | 11.21% | 7.57% | 7.46% | -0.51% | 8.20% | 4.32% | 10.75% | -2.78% | -10.96% | -14.16% | 0.82% | -12.03% | 3.76% |
| Income Tax Expense | $1.61M | $1.31M | $770.00K | $-6.58M | $1.53M | $966.00K | $758.00K | $851.00K | $1.14M | $893.00K | $726.00K | $216.00K | $1.02M | $861.00K | $165.00K | $206.00K | $-23.00K | $-101.00K | $-215.00K | $-288.00K |
| Net Income | $2.49M | $3.29M | $1.44M | $8.64M | $1.94M | $1.02M | $-1.12M | $3.23M | $1.73M | $1.87M | $-885.00K | $2.99M | $495.00K | $3.42M | $-843.00K | $-2.54M | $-2.85M | $267.00K | $-2.52M | $1.50M |
| Net Income Ratio | 5.99% | 8.77% | 4.20% | 21.50% | 4.24% | 2.91% | -3.79% | 8.87% | 4.56% | 5.05% | -2.83% | 7.65% | 1.41% | 8.58% | -3.45% | -11.92% | -14.04% | 1.31% | -11.09% | 4.66% |
| EPS | $0.31 | $0.41 | $0.18 | $1.09 | $0.24 | $0.13 | $-0.14 | $0.40 | $0.22 | $0.23 | $-0.11 | $0.37 | $0.06 | $0.42 | $-0.10 | $-0.31 | $-0.35 | $0.03 | $-0.31 | $0.19 |
| EPS Diluted | $0.31 | $0.40 | $0.18 | $1.08 | $0.24 | $0.13 | $-0.14 | $0.39 | $0.21 | $0.23 | $-0.11 | $0.36 | $0.06 | $0.41 | $-0.10 | $-0.31 | $-0.35 | $0.03 | $-0.31 | $0.18 |
| Weighted Average Shares Outstanding | 7.98M | 7.95M | 7.91M | 7.92M | 7.96M | 8.03M | 8.00M | 8.00M | 8.00M | 7.97M | 7.92M | 8.09M | 8.13M | 8.15M | 8.16M | 8.16M | 8.14M | 8.13M | 8.05M | 8.05M |
| Weighted Average Shares Outstanding Diluted | 8.03M | 8.12M | 8.06M | 7.99M | 8.02M | 8.14M | 8.00M | 8.21M | 8.15M | 8.19M | 7.92M | 8.38M | 8.39M | 8.32M | 8.16M | 8.16M | 8.16M | 8.28M | 8.05M | 8.34M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Annual Balance Sheet
| Breakdown | January 31, 2024 | January 31, 2023 | January 31, 2022 | January 31, 2021 | January 31, 2020 |
|---|---|---|---|---|---|
| Cash and Cash Equivalents | $5.84M | $5.77M | $8.21M | $7.17M | $13.37M |
| Short Term Investments | $- | $- | $- | $- | $- |
| Cash and Short Term Investments | $5.84M | $5.77M | $8.21M | $7.17M | $13.37M |
| Net Receivables | $66.34M | $56.77M | $49.41M | $29.48M | $31.57M |
| Inventory | $15.54M | $14.74M | $13.76M | $12.16M | $14.50M |
| Other Current Assets | $11.09M | $8.38M | $7.00M | $5.06M | $4.82M |
| Total Current Assets | $98.82M | $85.66M | $78.39M | $53.88M | $64.25M |
| Property Plant Equipment Net | $44.09M | $31.05M | $35.97M | $40.28M | $40.10M |
| Goodwill | $2.22M | $2.23M | $2.34M | $2.33M | $2.25M |
| Intangible Assets | $- | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $2.22M | $2.23M | $2.34M | $2.33M | $2.25M |
| Long Term Investments | $- | $2.90M | $4.30M | $2.70M | $2.10M |
| Tax Assets | $7.92M | $696.00K | $811.00K | $823.00K | $293.00K |
| Other Non-Current Assets | $2.67M | $440.00K | $1.59M | $2.68M | $3.22M |
| Total Non-Current Assets | $56.89M | $37.31M | $45.01M | $48.82M | $47.97M |
| Other Assets | $- | $- | $- | $- | $- |
| Total Assets | $155.71M | $122.97M | $123.40M | $102.69M | $112.22M |
| Account Payables | $25.32M | $14.75M | $13.62M | $10.37M | $9.58M |
| Short Term Debt | $10.39M | $11.36M | $8.88M | $8.17M | $11.07M |
| Tax Payables | $2.38M | $2.32M | $2.02M | $1.16M | $664.00K |
| Deferred Revenue | $3.36M | $3.69M | $4.35M | $2.85M | $3.38M |
| Other Current Liabilities | $16.29M | $11.66M | $13.88M | $8.56M | $11.52M |
| Total Current Liabilities | $57.74M | $43.79M | $38.40M | $28.25M | $32.84M |
| Long Term Debt | $22.29M | $17.86M | $25.66M | $19.44M | $17.93M |
| Deferred Revenue Non-Current | $- | $- | $- | $4.12M | $4.20M |
| Deferred Tax Liabilities Non-Current | $1.22M | $909.00K | $712.00K | $914.00K | $1.05M |
| Other Non-Current Liabilities | $2.49M | $2.63M | $4.18M | $4.77M | $4.77M |
| Total Non-Current Liabilities | $25.99M | $21.39M | $30.55M | $25.13M | $23.76M |
| Other Liabilities | $- | $- | $- | $- | $- |
| Total Liabilities | $83.73M | $65.18M | $68.94M | $53.38M | $56.60M |
| Preferred Stock | $- | $- | $- | $- | $- |
| Common Stock | $80.00K | $80.00K | $82.00K | $82.00K | $80.00K |
| Retained Earnings | $12.09M | $1.62M | $-2.29M | $-8.36M | $-715.00K |
| Accumulated Other Comprehensive Income Loss | $-5.55M | $-6.45M | $-3.10M | $-3.29M | $-3.76M |
| Other Total Stockholders Equity | $59.09M | $62.54M | $59.77M | $60.88M | $60.02M |
| Total Stockholders Equity | $65.71M | $57.78M | $54.46M | $49.31M | $55.63M |
| Total Equity | $71.98M | $57.78M | $54.46M | $49.31M | $55.63M |
| Total Liabilities and Stockholders Equity | $155.71M | $122.97M | $123.40M | $102.69M | $112.22M |
| Minority Interest | $6.27M | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $155.71M | $122.97M | $123.40M | $102.69M | $112.22M |
| Total Investments | $1.70M | $2.90M | $4.30M | $2.70M | $2.10M |
| Total Debt | $32.79M | $29.38M | $34.54M | $27.61M | $29.01M |
| Net Debt | $26.95M | $23.61M | $26.32M | $20.44M | $15.63M |
Balance Sheet Charts
| Breakdown | October 31, 2024 | July 31, 2024 | April 30, 2024 | January 31, 2024 | October 31, 2023 | July 31, 2023 | April 30, 2023 | January 31, 2023 | October 31, 2022 | July 31, 2022 | April 30, 2022 | January 31, 2022 | October 31, 2021 | July 31, 2021 | April 30, 2021 | January 31, 2021 | October 31, 2020 | July 31, 2020 | April 30, 2020 | January 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $13.31M | $9.46M | $9.06M | $7.24M | $6.02M | $6.10M | $8.78M | $5.77M | $8.58M | $6.19M | $6.38M | $8.21M | $10.02M | $5.51M | $8.48M | $7.17M | $6.59M | $9.11M | $12.45M | $13.37M |
| Short Term Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Cash and Short Term Investments | $13.31M | $9.46M | $9.06M | $7.24M | $6.02M | $6.10M | $8.78M | $5.77M | $8.58M | $6.19M | $6.38M | $8.21M | $10.02M | $5.51M | $8.48M | $7.17M | $6.59M | $9.11M | $12.45M | $13.37M |
| Net Receivables | $62.09M | $60.86M | $62.30M | $66.34M | $63.88M | $65.26M | $54.78M | $56.77M | $58.07M | $61.72M | $51.55M | $49.41M | $43.48M | $45.41M | $30.78M | $29.48M | $27.80M | $25.63M | $28.18M | $31.57M |
| Inventory | $15.96M | $15.82M | $15.41M | $15.54M | $16.05M | $13.88M | $12.88M | $14.74M | $14.78M | $16.35M | $15.40M | $13.76M | $15.43M | $14.60M | $15.07M | $12.16M | $12.09M | $12.14M | $13.91M | $14.50M |
| Other Current Assets | $13.05M | $14.62M | $13.61M | $11.09M | $8.70M | $8.36M | $9.11M | $8.38M | $7.96M | $7.30M | $8.13M | $7.00M | $6.74M | $10.34M | $10.24M | $5.06M | $6.18M | $8.18M | $5.42M | $4.82M |
| Total Current Assets | $104.41M | $100.76M | $98.99M | $98.82M | $94.65M | $93.60M | $85.54M | $85.66M | $89.39M | $91.56M | $81.46M | $78.39M | $75.67M | $75.87M | $64.57M | $53.88M | $52.67M | $55.06M | $59.97M | $64.25M |
| Property Plant Equipment Net | $43.05M | $44.46M | $44.38M | $44.09M | $42.23M | $43.34M | $32.90M | $31.05M | $30.25M | $31.56M | $31.47M | $35.97M | $37.11M | $37.47M | $38.40M | $40.28M | $40.72M | $38.20M | $38.72M | $40.10M |
| Goodwill | $2.14M | $2.16M | $2.17M | $2.22M | $2.15M | $2.26M | $2.20M | $2.23M | $2.19M | $2.33M | $2.32M | $2.34M | $2.41M | $2.39M | $2.43M | $2.33M | $2.24M | $2.22M | $2.14M | $2.25M |
| Intangible Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $2.14M | $2.16M | $2.17M | $2.22M | $2.15M | $2.26M | $2.20M | $2.23M | $2.19M | $2.33M | $2.32M | $2.34M | $2.41M | $2.39M | $2.43M | $2.33M | $2.24M | $2.22M | $2.14M | $2.25M |
| Long Term Investments | $- | $- | $- | $1.70M | $- | $- | $- | $2.90M | $2.50M | $1.10M | $3.40M | $4.30M | $3.40M | $3.40M | $3.40M | $- | $- | $- | $- | $- |
| Tax Assets | $7.22M | $7.87M | $8.16M | $7.92M | $639.00K | $570.00K | $636.00K | $696.00K | $729.00K | $797.00K | $823.00K | $811.00K | $858.00K | $879.00K | $911.00K | $823.00K | $604.00K | $566.00K | $402.00K | $293.00K |
| Other Non-Current Assets | $3.93M | $3.95M | $3.46M | $965.00K | $4.53M | $3.54M | $3.52M | $440.00K | $749.00K | $3.24M | $2.45M | $1.59M | $3.05M | $1.68M | $1.91M | $5.38M | $3.53M | $3.96M | $5.56M | $5.32M |
| Total Non-Current Assets | $56.34M | $58.42M | $58.17M | $56.89M | $49.55M | $49.71M | $39.25M | $37.31M | $36.42M | $39.02M | $40.46M | $45.01M | $46.83M | $45.82M | $47.04M | $48.82M | $47.09M | $44.94M | $46.83M | $47.97M |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $160.75M | $159.19M | $157.16M | $155.71M | $144.21M | $143.31M | $124.79M | $122.97M | $125.81M | $130.58M | $121.92M | $123.40M | $122.50M | $121.69M | $111.62M | $102.69M | $99.76M | $100.00M | $106.79M | $112.22M |
| Account Payables | $20.79M | $21.41M | $24.67M | $25.32M | $26.10M | $23.49M | $14.32M | $14.75M | $14.00M | $14.50M | $15.63M | $13.62M | $16.22M | $16.73M | $13.64M | $10.37M | $7.91M | $7.94M | $8.56M | $9.58M |
| Short Term Debt | $12.54M | $7.48M | $12.22M | $10.50M | $14.72M | $16.68M | $14.22M | $11.36M | $15.43M | $19.37M | $13.55M | $8.88M | $7.68M | $4.55M | $5.34M | $8.17M | $4.94M | $5.52M | $9.99M | $11.07M |
| Tax Payables | $2.73M | $3.83M | $1.96M | $2.38M | $4.93M | $1.88M | $2.01M | $2.32M | $2.35M | $1.39M | $1.31M | $2.02M | $1.80M | $1.47M | $1.41M | $1.16M | $1.00M | $750.00K | $765.00K | $664.00K |
| Deferred Revenue | $4.59M | $704.00K | $891.00K | $495.00K | $4.12M | $5.45M | $5.03M | $3.69M | $4.79M | $5.14M | $4.00M | $4.35M | $4.36M | $4.55M | $4.24M | $2.85M | $2.77M | $2.61M | $2.51M | $3.38M |
| Other Current Liabilities | $13.14M | $23.04M | $14.38M | $14.78M | $7.65M | $15.72M | $16.44M | $11.66M | $15.67M | $15.03M | $12.27M | $13.88M | $10.87M | $14.18M | $8.05M | $8.56M | $9.52M | $9.76M | $11.52M | $11.52M |
| Total Current Liabilities | $53.79M | $56.47M | $59.41M | $57.74M | $57.54M | $57.77M | $47.00M | $43.79M | $47.46M | $50.28M | $42.76M | $38.40M | $37.43M | $36.93M | $30.48M | $28.25M | $23.36M | $23.98M | $30.82M | $32.84M |
| Long Term Debt | $22.59M | $22.33M | $21.84M | $22.29M | $13.14M | $11.48M | $17.67M | $8.64M | $10.75M | $20.78M | $21.18M | $25.66M | $17.19M | $26.70M | $18.12M | $19.44M | $19.67M | $16.86M | $17.09M | $17.93M |
| Deferred Revenue Non-Current | $- | $- | $15.01M | $18.06M | $1.14M | $928.00K | $1.68M | $- | $- | $- | $3.37M | $3.38M | $4.22M | $4.17M | $4.12M | $4.12M | $4.49M | $4.42M | $4.24M | $4.20M |
| Deferred Tax Liabilities Non-Current | $1.32M | $1.17M | $993.00K | $1.22M | $976.00K | $975.00K | $915.00K | $909.00K | $896.00K | $907.00K | $865.00K | $712.00K | $1.33M | $1.06M | $868.00K | $914.00K | $583.00K | $672.00K | $751.00K | $1.05M |
| Other Non-Current Liabilities | $2.87M | $2.58M | $2.34M | $2.49M | $11.42M | $13.88M | $2.75M | $11.84M | $11.91M | $4.31M | $4.22M | $4.18M | $14.16M | $4.92M | $13.36M | $4.77M | $5.15M | $5.04M | $5.16M | $4.77M |
| Total Non-Current Liabilities | $26.79M | $26.08M | $25.17M | $25.99M | $25.54M | $26.33M | $21.34M | $21.39M | $23.56M | $26.00M | $26.27M | $30.55M | $32.68M | $32.68M | $32.35M | $25.13M | $25.40M | $22.57M | $23.01M | $23.76M |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $80.59M | $82.55M | $84.58M | $83.73M | $83.08M | $84.10M | $68.34M | $65.18M | $71.02M | $76.28M | $69.03M | $68.94M | $70.11M | $69.62M | $62.83M | $53.38M | $48.77M | $46.55M | $53.83M | $56.60M |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $80.00K | $81.00K | $80.00K | $80.00K | $80.00K | $81.00K | $80.00K | $80.00K | $80.00K | $80.00K | $82.00K | $82.00K | $81.00K | $81.00K | $82.00K | $82.00K | $82.00K | $82.00K | $80.00K | $80.00K |
| Retained Earnings | $18.34M | $16.82M | $13.53M | $12.09M | $3.45M | $1.52M | $494.00K | $1.62M | $-1.62M | $-3.35M | $-3.18M | $-2.29M | $-5.29M | $-5.78M | $-9.20M | $-8.36M | $-5.82M | $-2.97M | $-3.24M | $-715.00K |
| Accumulated Other Comprehensive Income Loss | $-7.34M | $-7.16M | $-6.97M | $-5.55M | $-8.58M | $-6.55M | $-6.89M | $-6.45M | $-5.98M | $-4.49M | $-4.04M | $-3.10M | $-3.38M | $-3.40M | $-3.25M | $-3.29M | $-3.86M | $-3.97M | $-4.13M | $-3.76M |
| Other Total Stockholders Equity | $60.13M | $58.84M | $58.90M | $59.09M | $62.02M | $62.42M | $62.77M | $62.54M | $62.31M | $62.05M | $60.03M | $59.77M | $60.97M | $61.17M | $61.15M | $60.88M | $60.59M | $60.31M | $60.24M | $60.02M |
| Total Stockholders Equity | $71.21M | $68.58M | $65.55M | $65.71M | $56.97M | $57.47M | $56.45M | $57.78M | $54.79M | $54.30M | $52.89M | $54.46M | $52.38M | $52.07M | $48.78M | $49.31M | $50.99M | $53.45M | $52.96M | $55.63M |
| Total Equity | $80.16M | $76.64M | $72.58M | $71.98M | $61.13M | $59.21M | $56.45M | $57.78M | $54.79M | $54.30M | $52.89M | $54.46M | $52.38M | $52.07M | $48.78M | $49.31M | $50.99M | $53.45M | $52.96M | $55.63M |
| Total Liabilities and Stockholders Equity | $160.75M | $159.19M | $157.16M | $155.71M | $144.21M | $143.31M | $124.79M | $122.97M | $125.81M | $130.58M | $121.92M | $123.40M | $122.50M | $121.69M | $111.62M | $102.69M | $99.76M | $100.00M | $106.79M | $112.22M |
| Minority Interest | $8.95M | $8.06M | $7.03M | $6.27M | $4.16M | $1.74M | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $160.75M | $159.19M | $157.16M | $155.71M | $144.21M | $143.31M | $124.79M | $122.97M | $125.81M | $130.58M | $121.92M | $123.40M | $122.50M | $121.69M | $111.62M | $102.69M | $99.76M | $100.00M | $106.79M | $112.22M |
| Total Investments | $- | $- | $- | $1.70M | $- | $- | $- | $2.90M | $2.50M | $1.10M | $3.40M | $4.30M | $3.40M | $3.40M | $3.40M | $- | $- | $- | $- | $- |
| Total Debt | $35.10M | $35.51M | $34.09M | $32.79M | $36.92M | $37.21M | $31.90M | $29.38M | $35.43M | $40.15M | $34.73M | $34.54M | $32.53M | $31.25M | $30.71M | $27.61M | $24.61M | $22.38M | $27.08M | $29.01M |
| Net Debt | $21.80M | $26.06M | $25.03M | $25.55M | $30.90M | $31.11M | $23.12M | $23.61M | $26.85M | $33.96M | $28.36M | $26.32M | $22.51M | $25.74M | $22.23M | $20.44M | $18.02M | $13.27M | $14.63M | $15.63M |
Annual Cash Flow
| Breakdown | January 31, 2024 | January 31, 2023 | January 31, 2022 | January 31, 2021 | January 31, 2020 |
|---|---|---|---|---|---|
| Net Income | $10.47M | $5.95M | $6.06M | $-7.64M | $3.58M |
| Depreciation and Amortization | $3.83M | $3.65M | $4.32M | $4.74M | $4.44M |
| Deferred Income Tax | $-6.92M | $479.00K | $-195.00K | $-669.00K | $-213.00K |
| Stock Based Compensation | $913.00K | $1.00M | $1.10M | $1.04M | $1.01M |
| Change in Working Capital | $3.61M | $-13.30M | $-13.93M | $2.56M | $-5.14M |
| Accounts Receivables | $-11.13M | $-3.23M | $-21.33M | $3.39M | $1.75M |
| Inventory | $-830.00K | $-1.50M | $-1.62M | $2.42M | $-2.23M |
| Accounts Payables | $8.81M | $1.09M | $3.20M | $730.00K | $-2.61M |
| Other Working Capital | $6.76M | $-9.65M | $5.83M | $-3.98M | $-2.06M |
| Other Non Cash Items | $2.82M | $985.00K | $61.00K | $130.00K | $419.00K |
| Net Cash Provided by Operating Activities | $14.73M | $-1.24M | $-2.57M | $165.00K | $4.09M |
| Investments in Property Plant and Equipment | $-11.11M | $-6.97M | $-2.26M | $-1.96M | $-1.90M |
| Acquisitions Net | $- | $593.00K | $9.00K | $2.00K | $- |
| Purchases of Investments | $- | $- | $- | $- | $- |
| Sales Maturities of Investments | $- | $- | $- | $- | $- |
| Other Investing Activities | $8.00K | $499.00K | $9.00K | $2.00K | $- |
| Net Cash Used for Investing Activities | $-11.10M | $-6.38M | $-2.25M | $-1.96M | $-1.90M |
| Debt Repayment | $-1.84M | $4.78M | $8.38M | $-3.95M | $-393.00K |
| Common Stock Issued | $- | $- | $- | $- | $221.00K |
| Common Stock Repurchased | $-942.00K | $-69.00K | $-1.99M | $-191.00K | $- |
| Dividends Paid | $- | $- | $- | $- | $- |
| Other Financing Activities | $-470.00K | $42.00K | $58.00K | $- | $92.00K |
| Net Cash Used Provided by Financing Activities | $-3.26M | $4.54M | $6.23M | $-4.14M | $-301.00K |
| Effect of Forex Changes on Cash | $70.00K | $102.00K | $-10.00K | $-343.00K | $34.00K |
| Net Change in Cash | $447.00K | $-2.98M | $1.40M | $-6.28M | $1.92M |
| Cash at End of Period | $7.24M | $6.79M | $9.77M | $8.38M | $14.66M |
| Cash at Beginning of Period | $6.79M | $9.77M | $8.38M | $14.66M | $12.74M |
| Operating Cash Flow | $14.73M | $-1.24M | $-2.57M | $165.00K | $4.09M |
| Capital Expenditure | $-11.11M | $-6.97M | $-2.26M | $-1.96M | $-1.90M |
| Free Cash Flow | $3.62M | $-8.22M | $-4.84M | $-1.80M | $2.19M |
Cash Flow Charts
| Breakdown | October 31, 2024 | July 31, 2024 | April 30, 2024 | January 31, 2024 | October 31, 2023 | July 31, 2023 | April 30, 2023 | January 31, 2023 | October 31, 2022 | July 31, 2022 | April 30, 2022 | January 31, 2022 | October 31, 2021 | July 31, 2021 | April 30, 2021 | January 31, 2021 | October 31, 2020 | July 31, 2020 | April 30, 2020 | January 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $3.80M | $4.28M | $1.44M | $8.64M | $3.36M | $1.17M | $-1.12M | $3.23M | $1.73M | $1.87M | $-885.00K | $2.99M | $495.00K | $3.42M | $-843.00K | $-2.54M | $-2.85M | $267.00K | $-2.52M | $1.50M |
| Depreciation and Amortization | $970.00K | $888.00K | $829.00K | $1.06M | $983.00K | $876.00K | $915.00K | $865.00K | $855.00K | $931.00K | $995.00K | $1.06M | $998.00K | $1.14M | $1.12M | $1.12M | $1.38M | $1.13M | $1.11M | $1.09M |
| Deferred Income Tax | $816.00K | $472.00K | $-269.00K | $-7.07M | $-46.00K | $114.00K | $77.00K | $121.00K | $122.00K | $79.00K | $157.00K | $-556.00K | $288.00K | $230.00K | $-157.00K | $94.00K | $-133.00K | $-268.00K | $-362.00K | $75.00K |
| Stock Based Compensation | $233.00K | $168.00K | $228.00K | $227.00K | $230.00K | $227.00K | $229.00K | $239.00K | $243.00K | $284.00K | $236.00K | $283.00K | $270.00K | $276.00K | $272.00K | $280.00K | $285.00K | $260.00K | $219.00K | $225.00K |
| Change in Working Capital | $4.63M | $-3.41M | $-1.22M | $2.96M | $-393.00K | $-2.65M | $3.69M | $-618.00K | $2.19M | $-7.28M | $-7.58M | $-6.26M | $3.08M | $-7.90M | $-2.84M | $-889.00K | $575.00K | $665.00K | $2.21M | $-1.81M |
| Accounts Receivables | $-1.53M | $4.24M | $3.34M | $-2.80M | $4.49M | $-11.73M | $1.86M | $1.11M | $1.51M | $-9.35M | $3.49M | $-10.14M | $8.08M | $-16.64M | $-2.63M | $2.17M | $-2.56M | $421.00K | $3.36M | $-1.21M |
| Inventory | $-161.00K | $-450.00K | $-359.00K | $596.00K | $-2.31M | $-931.00K | $1.81M | $40.00K | $1.21M | $-939.00K | $-1.82M | $1.62M | $-820.00K | $452.00K | $-2.87M | $35.00K | $68.00K | $1.85M | $468.00K | $1.75M |
| Accounts Payables | $-890.00K | $-2.80M | $-268.00K | $-532.00K | $1.30M | $8.27M | $-227.00K | $581.00K | $-337.00K | $-1.19M | $2.04M | $-2.66M | $-513.00K | $3.13M | $3.24M | $2.34M | $127.00K | $-756.00K | $-977.00K | $-3.13M |
| Other Working Capital | $7.21M | $-4.40M | $-3.93M | $5.70M | $-3.88M | $1.74M | $245.00K | $-2.35M | $-202.00K | $4.20M | $-11.30M | $4.93M | $-3.68M | $5.15M | $-575.00K | $-5.43M | $2.94M | $-847.00K | $-640.00K | $775.00K |
| Other Non Cash Items | $-6.37M | $84.00K | $-492.00K | $6.37M | $-53.00K | $-18.00K | $21.00K | $18.00K | $937.00K | $56.00K | $-26.00K | $-72.00K | $67.00K | $44.00K | $22.00K | $126.00K | $99.00K | $-33.00K | $-62.00K | $216.00K |
| Net Cash Provided by Operating Activities | $4.07M | $2.48M | $1.35M | $7.11M | $4.08M | $-279.00K | $3.81M | $3.86M | $6.07M | $-4.06M | $-7.11M | $-2.54M | $5.19M | $-2.80M | $-2.43M | $-1.80M | $-649.00K | $2.02M | $597.00K | $1.29M |
| Investments in Property Plant and Equipment | $1.62M | $-1.17M | $-2.01M | $-2.90M | $-1.41M | $-3.57M | $-3.23M | $-3.74M | $-1.21M | $-1.63M | $-400.00K | $-311.00K | $-1.04M | $-488.00K | $-424.00K | $-330.00K | $-872.00K | $14.00K | $-775.00K | $-479.00K |
| Acquisitions Net | $- | $- | $- | $3.00K | $- | $- | $5.00K | $476.00K | $48.00K | $-1.00K | $70.00K | $-35.00K | $32.00K | $12.00K | $- | $- | $- | $- | $- | $- |
| Purchases of Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Sales Maturities of Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Investing Activities | $- | $- | $- | $3.00K | $- | $- | $5.00K | $476.00K | $48.00K | $-1.00K | $70.00K | $-35.00K | $32.00K | $12.00K | $- | $-14.00K | $2.00K | $14.00K | $- | $- |
| Net Cash Used for Investing Activities | $1.62M | $-1.17M | $-2.01M | $-2.90M | $-1.41M | $-3.57M | $-3.22M | $-3.26M | $-1.16M | $-1.63M | $-330.00K | $-346.00K | $-1.01M | $-476.00K | $-424.00K | $-330.00K | $-870.00K | $14.00K | $-775.00K | $-479.00K |
| Debt Repayment | $-892.00K | $674.00K | $1.75M | $-4.45M | $-1.89M | $1.86M | $2.63M | $-3.23M | $-2.96M | $5.86M | $5.11M | $2.38M | $1.40M | $666.00K | $3.93M | $3.03M | $-800.00K | $-5.18M | $-1.00M | $400.00K |
| Common Stock Issued | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock Repurchased | $209.00K | $-209.00K | $- | $-1.00K | $-629.00K | $-585.00K | $- | $-26.00K | $8.00K | $-290.00K | $- | $-1.50M | $-496.00K | $-255.00K | $- | $1.00K | $1.00K | $-193.00K | $- | $- |
| Dividends Paid | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Financing Activities | $-4.00K | $-786.00K | $802.00K | $2.00K | $-21.00K | $-2.00K | $-176.00K | $188.00K | $-151.00K | $-232.00K | $-12.00K | $89.00K | $15.00K | $-17.00K | $16.00K | $50.00K | $-148.00K | $144.00K | $-44.00K | $78.00K |
| Net Cash Used Provided by Financing Activities | $-896.00K | $-321.00K | $2.56M | $-4.45M | $-2.54M | $1.27M | $2.46M | $-3.07M | $-3.11M | $5.62M | $5.09M | $974.00K | $918.00K | $394.00K | $3.95M | $3.08M | $-948.00K | $-5.23M | $-1.04M | $478.00K |
| Effect of Forex Changes on Cash | $-958.00K | $824.00K | $-71.00K | $69.00K | $-60.00K | $118.00K | $-57.00K | $-461.00K | $227.00K | $-135.00K | $471.00K | $-79.00K | $-66.00K | $-41.00K | $176.00K | $-320.00K | $-42.00K | $-101.00K | $120.00K | $8.00K |
| Net Change in Cash | $3.85M | $1.82M | $1.82M | $-168.00K | $81.00K | $-2.46M | $2.99M | $-2.93M | $2.03M | $-206.00K | $-1.87M | $-1.99M | $5.04M | $-2.92M | $1.27M | $628.00K | $-2.51M | $-3.30M | $-1.10M | $1.30M |
| Cash at End of Period | $14.73M | $10.88M | $9.06M | $7.24M | $7.41M | $7.33M | $9.79M | $6.79M | $9.72M | $7.69M | $7.90M | $9.77M | $11.76M | $6.73M | $9.65M | $8.38M | $7.75M | $10.26M | $13.55M | $14.66M |
| Cash at Beginning of Period | $10.88M | $9.06M | $7.24M | $7.41M | $7.33M | $9.79M | $6.79M | $9.72M | $7.69M | $7.90M | $9.77M | $11.76M | $6.73M | $9.65M | $8.38M | $7.75M | $10.26M | $13.55M | $14.66M | $13.36M |
| Operating Cash Flow | $4.07M | $2.48M | $1.35M | $7.11M | $4.08M | $-279.00K | $3.81M | $3.86M | $6.07M | $-4.06M | $-7.11M | $-2.54M | $5.19M | $-2.80M | $-2.43M | $-1.80M | $-649.00K | $2.02M | $597.00K | $1.29M |
| Capital Expenditure | $1.62M | $-1.17M | $-2.01M | $-2.90M | $-1.41M | $-3.57M | $-3.23M | $-3.74M | $-1.21M | $-1.63M | $-400.00K | $-311.00K | $-1.04M | $-488.00K | $-424.00K | $-330.00K | $-872.00K | $14.00K | $-775.00K | $-479.00K |
| Free Cash Flow | $5.70M | $1.31M | $-662.00K | $4.21M | $2.68M | $-3.85M | $585.00K | $120.00K | $4.87M | $-5.69M | $-7.51M | $-2.85M | $4.15M | $-3.29M | $-2.85M | $-2.13M | $-1.52M | $2.04M | $-178.00K | $813.00K |
Perma-Pipe International Holdings Dividends
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Perma-Pipe International Holdings News
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Perma-Pipe International Holdings, Inc. Announces the Appointment of Jon C. Biro to its Board of Directors
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH), today announced changes to its Board of Directors, including the appointment to the Board of Mr. Jon C. Biro, effective March 4, 2025. Mr. Biro, age 58, has extensive business leadership, financial, board, and C-Suite executive experience, serving as an Operating Advisor to Snow Peak Capital, LLC since 2022, as well as serving on the board for one of its portfolio companies, Sandy Alexander, Inc., a commerci.
Perma-Pipe International Holdings, Inc. Announces $43 Million Contract Award in the Middle East Region
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced it has received a formal letter of award for a development project located in the GCC region. Perma-Pipe will provide thermal insulation, anti-corrosion coatings, and other services from its Abu Dhabi facility. Project commencement is expected to begin in the third quarter of 2025. The value of this project is estimated to exceed $43 million. This project will utilize Perma-Pipe's anti-corrosi.
Perma-Pipe International Holdings, Inc. Announces the Appointment of Ibrahim Jaham Al Kuwari to its Board of Directors
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH), today announced changes to its Board of Directors, including the appointment to the Board of Mr. Ibrahim Jaham Al Kuwari, effective January 6, 2025. Concurrent with this announcement, Independent Director Cynthia Boiter has announced her resignation, effective May 1, 2025, and current Chairman of the Board, Jerome Walker, has announced he will not be standing for re-election at Perma-Pipe's upcoming 2025 Ann.
Perma-Pipe International Holdings, Inc. Announces Third Quarter Financial Results
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the second quarter and fiscal year-to-date period ended October 31, 2024. "Net sales for the third quarter were $41.6 million, a decrease of $4.1 million, as compared to the same quarter last year. Net income attributable to common stock of $2.5 million was an increase of $0.5 million, or 29%, compared to $1.9 million in the third quarter of 2023. For the nine months ende.
Perma-Pipe International Holdings, Inc. Announces $15 Million in Contract Awards in the Americas and Middle East Regions
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced $6 million in new project awards in the MENA region. Additionally, the company announced $9 million in new project awards in the Americas, demonstrating continual improvement in the region. These new project awards will utilize Perma-Pipe's anti-corrosion coatings capabilities and the XTRU-THERM® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene cas.
Perma-Pipe International Holdings, Inc., announces $4 million in Contract Awards in the Americas Region
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced it has been awarded three projects in the Americas region. The aggregate amount of these three projects is more than 4 million USD. These project awards will be executed in Perma-Pipe's facilities in Canada and the U.S. Two awards for the provision of anticorrosion coating services for the oil and gas market in western Canada. One award for the provision of double-containment, pre-insulated pi.
Perma-Pipe International Holdings, Inc. Announces Second Quarter Financial Results
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the second quarter and fiscal year-to-date period ended July 31, 2024. "Net sales for the second quarter were $37.5 million, an increase of $2.4 million, as compared to the same quarter last year. Net income attributable to common stock of $3.3 million, was an increase of $2.3 million, or 222%, compared to $1.0 million in the second quarter of 2023. For the six months end.
Perma-Pipe International Holdings, Inc. Announces $10 Million in Contract Awards in Saudi Arabia
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced it has recently been awarded new contracts worth $10 million in Saudi Arabia. Most of these awards will be executed and delivered during the next quarter. The newly awarded projects are part of major infrastructure developments in Riyadh, Madinah, and Mekkah in Saudi Arabia. These projects will utilize Perma-Pipe's fabrication and coating capabilities, and the XTRU-THERM® insulation system, a.
Perma-Pipe International Holdings, Inc. Announces First Quarter Fiscal 2024 Financial Results
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the first quarter ended April 30, 2024. “Revenues for the first quarter were $34.3 million, an increase of $4.6 million or 15%, as compared to the same quarter last year, and net income attributable to common stock of $1.4 million was an increase of $2.5 million or 227%, as compared to a net loss of $(1.1) million in the same quarter of 2023. Our first quarter results dem.
Zacks Initiates Coverage of PERMA-PIPE With Outperform Recommendation
Discover why Zacks rates "Outperform" for PERMA-PIPE, being the first on Wall Street to initiate coverage on the stock. Explore PPIH's strategic role in Qatar's LNG expansion and robust financial growth, amid the thriving global steel pipes market.
Perma-Pipe International Holdings announces acceptance into QatarEnergy's Tawteen Program
SPRING, Texas--(BUSINESS WIRE)--PERMA-PIPE International Holdings, Inc (Nasdaq: PPIH) today announces its acceptance into QatarEnergy's Tawteen program. Tawteen is the Supply Chain Localization Program for the energy sector in Qatar led by QatarEnergy. PERMA-PIPE will aim to provide pre-insulated piping systems, custom fabrication and 3-layer polyethylene coatings for QatarEnergy projects. Saleh Sagr, Senior Vice President for PERMA-PIPE's MENA region commented, “We are pleased to announce and.
Perma-Pipe International Holdings, Inc. Announces its Third Quarter Fiscal 2023 Financial Results
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the third quarter ended October 31, 2023. “Revenues for the third quarter were $45.7 million, an increase of $7.8 million versus the same quarter last year, and an increase of 30% over those arising in the previous quarter this year. The resulting income from operations of $4.9 million exceeded the $2.9 million earned in the same quarter of 2022 and represents over 70% of.
Perma-Pipe International Holdings Announces the Appointment of Matthew Lewicki as Vice President and Chief Financial Officer, Secretary and Treasurer
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced the appointment of Matthew Lewicki to Vice President and Chief Financial Officer, Secretary and Treasurer (“CFO”) replacing long time financial executive D. Bryan Norwood who informed the Board of his intention to retire effective October 2, 2023. As CFO, Matthew is charged with leadership, oversight and execution of all PPIH financial matters and will serve as a key business advisor to the se.
Perma-Pipe International Holdings, Inc., announces opening of a new state-of-the-art insulation facility in Canada
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is pleased to announce the opening of its second pipe insulating facility in Canada. Strategically located outside of Ottawa, Ontario the new plant will focus primarily on serving the Ontario, Quebec, and Atlantic Canada markets. With the support of our existing plant in Camrose, Alberta, Perma-Pipe is well positioned to provide our valued customers across Canada with top-quality insulation systems. The new 3.
Perma-Pipe International Holdings Appoints Chuck Heaton as Vice President of Human Resources
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced the appointment of Chuck Heaton to Vice President of Human Resources replacing Jill Curry. Chuck is charged with providing Human Resources strategy and leadership in developing and shaping key core competencies within PPIH that support the continuing growth of the company's business globally. These key core competencies include organizational design, talent management, succession planning, wor.
Perma-Pipe International Holdings, Inc. Announces its Second Quarter Fiscal 2023 Financial Results
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the second quarter ended July 31, 2023. “Revenues for the second quarter were $35.1 million, a decrease of $1.9 million versus the same quarter last year. The resulting income from operations of $2.7 million was below the $3.3 million earned in the same quarter of 2022. Note that the results for this quarter however included a non-operating one-time tax expense of $0.5 mi.
Perma-Pipe International Holdings, Inc. announces $8.5 million in contract awards in India and Saudi Arabia
SPRING, Texas--(BUSINESS WIRE)--PERMA-PIPE International Holdings, Inc. (Nasdaq: PPIH) today announces the award of contracts with a combined value of $8.5 million in India and the Kingdom of Saudi Arabia. The contracts are for the XTRU-THERM® product. Both projects are scheduled to be delivered by the end of Q4 2023. Saleh Sagr, Senior Vice President for PERMA-PIPE's MENA region, commented: ”We are thrilled to maintain our market position as the leading provider of preinsulated piping technolo.
Perma-Pipe International Holdings Announces Contract Awards in Excess of $23 Million
SPRING, Texas--(BUSINESS WIRE)--PERMA-PIPE International Holdings, Inc., (Nasdaq: PPIH) today announces the award of contracts with a combined value of $23.5 million in the United Arab Emirates and Egypt. The contracts are for custom coatings in the oil & gas sector as well as the XTRU-THERM® product in the district heating and cooling sector. Saleh Sagr, Senior Vice President for PERMA-PIPE's MENA region, comments, “I am delighted to announce these project awards. In Egypt, it is further c.
Perma-Pipe International Holdings, Inc. Announces its First Quarter Fiscal 2023 Financial Results
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the first quarter ended April 30, 2023. “Revenues for the first quarter were $29.7 million, a decrease of $1.5 million versus the same quarter last year. The resulting income from operations of $0.1 million was comparable to the $0.2 million earned in the same quarter of 2022," noted President and CEO David Mansfield. "After a significant amount of new awards in the quart.
Perma-Pipe International Holdings, Inc. Announces Fourth Quarter and Fiscal 2022 Financial Results
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the fourth quarter and 2022 fiscal year ended January 31, 2023. "Revenues for the fourth quarter were $36.4 million, $2.7 million below the same quarter last year, and net income of $3.2 million was an increase of $0.2 million compared to the same quarter of 2021. For the year ended January 31, 2023, revenues of $142.6 million were $4.0 million higher than the prior year. The resulting net income of $5.9 million was $0.1 million lower than the prior year. This decrease occurs after a non-cash charge of $0.9 million for the termination of a pension plan in 2022," noted President and CEO David Mansfield. “While revenue for the year increased only 3%, pre-tax income before the pension plan charge increased by 25% after improved margins were achieved,” Mr. Mansfield continued. "We continued to see growth in business activity in our markets during 2022. A buoyant oil and gas market in Canada that began in 2021 continued through last year as did increased infrastructure spending in Saudi Arabia. We expect these markets to continue to remain strong. In addition, our new product offerings in Egypt and the U.A.E. resulted in improved margins during 2022, and we will continue to pursue more opportunities in these markets,” noted Mr. Mansfield. "We have been executing our strategic plans, as demonstrated by the recent approval of our joint venture with Gulf Insulation Group (GIG) and the relocation of our U.A.E. operations to a new plant in Abu Dhabi. The joint venture with GIG will better position us to participate in the Saudi Arabian development plans, and the relocation to Abu Dhabi brings us closer to our customers in the oil and gas industry and provides us with a more efficient, state of the art facility,” Mr. Mansfield concluded. Fourth Quarter Fiscal 2022 Results Net sales were $36.4 million and $39.1 million in the three months ended January 31, 2023 and 2022, respectively. The decrease of $2.7 million was primarily a result of the timing of execution of certain large projects. Gross profit was $10.2 million, or 28% of net sales and $9.7 million, or 25% of net sales, in the three months ended January 31, 2023 and 2022, respectively. The increase of $0.5 million was driven by improved gross margins as a result of the mix of projects globally. General and administrative expenses were $5.8 million and $5.3 million in the three months ended January 31, 2023 and 2022, respectively. The increase of $0.5 million was primarily related to higher compensation costs. Selling expenses were $1.3 million and $1.1 million in the three months ended January 31, 2023 and 2022, respectively. The increase of $0.2 million was due to the expansion of the Company's sales force in the current period. Net interest expense was $0.5 million and $0.1 million in the three months ended January 31, 2023 and 2022, respectively. The increase of $0.4 million was related to increased borrowings and higher interest rates. Net other income was $1.5 million in the three months ended January 31, 2023 and less than $0.1 million in the three months ended January 31, 2022. The increase of $1.5 million was due to the release of the Company's liability for a past project as well as insurance recovery income. The Company's worldwide effective tax rates ("ETR") were 20.8% and 6.7% in the three months ended January 31, 2023 and 2022, respectively. The change in the ETR was primarily due to additional United State tax expense due to the inclusion of income from foreign jurisdictions with low effective tax rates, inability to recognize tax benefits on losses in the United States due to a full valuation allowance and changes in the mix of income and loss in the various tax jurisdictions. Net income was $3.2 million and $3.0 million in the three months ended January 31, 2023 and 2022, respectively. The increase in net income was a result of the changes discussed above. 2022 Results Net sales were $142.6 million and $138.6 million in the years ended January 31, 2023 and 2022, respectively. The increase of $4.0 million was primarily a result of higher sales volumes in North America and Saudi Arabia. Gross profit was $38.3 million, or 27% of net sales and $32.5 million, or 23% of net sales, in the years ended January 31, 2023 and 2022, respectively. The increase of $5.8 million was driven by higher sales volumes and improved gross margins as a result of the mix of projects globally. General and administrative expenses were $22.0 million and $19.9 million in the years ended January 31, 2023 and 2022, respectively. The increase of $2.1 million was primarily related to higher compensation costs. Selling expenses were $5.2 million and $4.5 million in the years ended January 31, 2023 and 2022, respectively. The increase of $0.7 million was due to the expansion of the Company's sales force in the current period. Net interest expense was $2.1 million and $0.8 million in the years ended January 31, 2023 and 2022, respectively. The increase of $1.3 million was related to increased borrowings and higher interest rates. Net other income was $0.5 million and $1.0 million in the years ended January 31, 2023 and 2022, respectively. The current year amount includes income from the release of the Company's liability for a past project and insurance recovery income, partially offset by a non-cash pre-tax settlement charge resulting from the termination of the Company's pension plan. The prior year amount includes the receipt of grants from the Canadian government in response to the COVID-19 pandemic. Grants to the Company under these programs ended in the second quarter of 2021. The Company's worldwide ETR's were 37.8% and 27.2% in the years ended January 31, 2023 and 2022, respectively. The change in the ETR was primarily due to additional United State tax expense due to the inclusion of income from foreign jurisdictions with low effective tax rates, inability to recognize tax benefits on losses in the United States due to a full valuation allowance and changes in the mix of income and loss in the various tax jurisdictions. Net income was $5.9 million and $6.1 million in the years ended January 31, 2023 and 2022, respectively. The decrease in net income was a result of the changes discussed above. Percentages set forth above in this press release have been rounded to the nearest percentage point, and may not correspond exactly to the comparative data presented. Perma-Pipe International Holdings, Inc. Perma-Pipe International Holdings is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at fourteen locations in six countries. Forward-Looking Statements Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “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, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) fluctuations in the price of oil and natural gas and its impact on customer order volume for the Company's products; (ii) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (iii) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (iv) the Company’s ability to repay its debt and renew expiring international credit facilities; (v) the Company’s ability to effectively execute its strategic plan and achieve sustained profitability and positive cash flows; (vi) the Company's ability to collect a long-term account receivable related to a project in the Middle East; (vii) the Company’s ability to interpret changes in tax regulations and legislation; (viii) the Company's ability to use its net operating loss carryforwards; (ix) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s "over-time" revenue recognition; (x) the Company’s failure to establish and maintain effective internal control over financial reporting; (xi) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (xii) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xiii) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the 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.) Perma-Pipe’s Form 10-K for the 2022 fiscal year ended January 31, 2023 will be accessible at www.sec.gov and www.permapipe.com. For more information, visit the Company's website. PERMA-PIPE INTERNATIONAL HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended January 31, Year Ended January 31, 2023 2022 2023 2022 Net sales $ 36,441 $ 39,126 $ 142,569 $ 138,552 Gross profit 10,236 9,654 38,301 32,530 Total operating expenses 7,115 6,381 27,157 24,419 Income from operations 3,121 3,273 11,144 8,111 Interest expense, net 534 112 2,119 828 Other income 1,498 47 533 1,044 Income before income taxes 4,085 3,208 9,558 8,327 Income tax expense 851 216 3,613 2,265 Net income $ 3,234 $ 2,992 $ 5,945 $ 6,062 Weighted average common shares outstanding Basic 8,004 7,999 7,976 8,110 Diluted 8,214 8,284 8,116 8,395 Earnings per share Basic $ 0.40 $ 0.37 $ 0.75 $ 0.75 Diluted $ 0.39 $ 0.36 $ 0.73 $ 0.72 Note: Earnings per share calculations could be impacted by rounding. PERMA-PIPE INTERNATIONAL HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) January 31, 2023 2022 ASSETS Current assets $ 85,658 $ 78,389 Long-term assets 37,308 45,012 Total assets $ 122,966 $ 123,401 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities $ 43,790 $ 38,397 Long-term liabilities 21,392 30,547 Total liabilities 65,182 68,944 Stockholders' equity 57,784 54,457 Total liabilities and stockholders' equity $ 122,966 $ 123,401
Perma-Pipe International Holdings announces contract awards in excess of $8 million
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced it has been awarded two contracts with a combined value in excess of US$8 million. The first is to provide insulated piping for a thermal distribution system on the campus of Fanshawe College in London, Ontario, Canada. The contract is to supply Perma-Pipe’s XTRU-THERM® thermally insulated piping system. Grant Dewbre, COO and Senior Vice President for Perma-Pipe’s Americas region stated, “We are excited to be working for Fanshawe College and EllisDon and we thank them for placing their trust in us, and we expect to exceed their expectations.” In addition, today Perma-Pipe International Holdings, Inc. announced its subsidiary, Perma-Pipe Middle East LLC, has been awarded contracts by China Petroleum & Chemical Corporation (Sinopec) for the provision of thermally insulated pipe and field joints for a project in Uganda. This project will feed the East African Crude Oil Pipeline (EACOP) transporting oil to the coast in Tanzania. The project will utilize Perma-Pipe’s XTRU-THERM® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene casing. The projects will begin execution in Perma-Pipe’s new facility in Abu Dhabi, UAE in Q3 2023. Saleh Sagr, Senior Vice President for Perma-Pipe’s MENA region commented, “I am glad to announce that this important project has been assigned to Perma-Pipe. We have recently announced the opening of the new plant in Abu Dhabi and obtaining this award is an excellent start. It demonstrates the need for a plant that is well positioned to serve export markets as well as oil and gas projects locally in the UAE and neighboring countries.” David Mansfield, President and CEO commented, “We are pleased to be chosen by EllisDon and Fanshawe College to be a part of this infrastructure project and to provide our district cooling and heating piping system to the Canadian market.” "We are also delighted with the Uganda project, and the opportunity to participate in this significant investment program. We are proud to be partnering with Sinopec so that we can demonstrate our expertise and our industry-leading products and services from our new, high-capacity state-of-the-art facility.” Perma-Pipe International Holdings, Inc. Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at fourteen locations in six countries. Forward-Looking Statements Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “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, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Company’s ability to repay its debt and renew expiring international credit facilities; (v) the Company’s ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global economic weakness and volatility; (vii) fluctuations in steel prices and the Company’s ability to offset increases in steel prices through price increases in its products; (viii) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (ix) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (x) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xi) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xii) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xiii) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xiv) reductions or cancellations of orders included in the Company’s backlog; (xv) the Company's ability to collect an account receivable related to a project in the Middle East; (xvi) risks and uncertainties related 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 Company’s ability to interpret changes in tax regulations and legislation; (xx) the Company's ability to use its net operating loss carryforwards; (xxi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s percentage-of-completion revenue recognition; (xxii) the Company’s failure to establish and maintain effective internal control over financial reporting; and (xxiii) 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).
Perma-Pipe International Holdings Inc. Announces $6.5 Million in Project Awards in India
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced its subsidiary Perma-Pipe India Pvt. Ltd. (Perma-Pipe India) has been awarded approximately $6.5 million in contracts during the first quarter of 2023. Two major projects will begin execution in Perma-Pipe’s Gandhidham, Gujarat, India facility in the first and second quarter of 2023. Reliance New Solar Energy Limited awarded Perma-Pipe India for the provision of thermally insulated pipe and field joints for a chilled water network on the 10 GW solar cell and module factory in Jamnagar, Gujarat. The project will utilize Perma-Pipe’s XTRU-THERM® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene casing. Prior to application of the insulation system, an anti-corrosion liquid epoxy coating system will be applied to the pipes as well as installing Perma-Pipe’s own PermAlert® leak detection system. In addition, Megha Engineering & Infrastructures Ltd. awarded Perma-Pipe India for the provision of thermally insulated pipe and field joints for a heat-traced application on the ABNP - Cairn Project, Rajasthan. The project will utilize Perma-Pipe’s TRACE-THERM™ insulation system which is designed to ensure optimum heat management during the life of the pipeline. The system will have welded tracer tubes for heat tracing and spray-applied polyurethane foam jacketed with a high-density polyethylene casing. Prior to application of the insulation system, an anti-corrosion fusion bonded epoxy coating will be applied internally and externally using Perma-Pipe’s custom coating facility. Saleh Sagr, Sr. Vice President for Perma-Pipe’s MENA region states, “We are pleased to see customers repeating business with us and look forward to serving Reliance New Solar Energy and Megha Engineering on these projects. It is encouraging to see continued opportunities in the Indian market.” David Mansfield, President and CEO commented, “We are delighted with both of these awards, and that customers return to place their trust in Perma-Pipe to deliver their projects. It is also satisfying to see that the strategic decision to install a custom coating plant in India was the right one.” Perma-Pipe International Holdings, Inc. Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at fourteen locations in six countries. Forward-Looking Statements Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “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, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Company’s ability to repay its debt and renew expiring international credit facilities; (v) the Company’s ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global economic weakness and volatility; (vii) fluctuations in steel prices and the Company’s ability to offset increases in steel prices through price increases in its products; (viii) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (ix) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (x) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xi) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xii) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xiii) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xiv) reductions or cancellations of orders included in the Company’s backlog; (xv) the Company's ability to collect an account receivable related to a project in the Middle East; (xvi) risks and uncertainties related 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 Company’s ability to interpret changes in tax regulations and legislation; (xx) the Company's ability to use its net operating loss carryforwards; (xxi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s percentage-of-completion revenue recognition; (xxii) the Company’s failure to establish and maintain effective internal control over financial reporting; and (xxiii) 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).
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