ORLANDO, Fla., Feb. 11, 2022 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (Nasdaq:GENC) (the “Company”) announced today net revenues of $20.1 million for the quarter ended December 31, 2021 compared to $19.0 million for the quarter ended December 31, 2020 due to higher parts revenues. There were no revenues generated by the Blaw-Knox paver product line during the quarter ended December 31, 2020, as the facility was not in production. Gross margins were 18.4% for the quarter ended December 31, 2021 compared to 15.7% for the quarter ended December 31, 2020. Due to the absence of revenues from Blaw-Knox in the quarter ended December 31, 2020, overall gross profit margins were negatively impacted by the unabsorbed manufacturing labor and overhead expenses.
Gencor Releases First Quarter Fiscal 2022 Results
Globe Newswire - Press Release
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