Perma-Pipe(PPIH) - 2025 Q3 - Quarterly Results

Sales Performance - The Company generated net sales of $41.6 million for the quarter, a decrease of$4.1 million, or 9%, compared to the same quarter last year[20] - Year-to-date net sales reached $113.4 million, representing an increase of$2.9 million, or 3%, compared to the same period last year[24] Net Income - Net income attributable to common stock for the quarter was $2.5 million, an increase of$0.6 million, or 29%, compared to $1.9 million in the third quarter of 2023[5] - Year-to-date net income attributable to common stock was$7.2 million, an increase of $5.4 million, or 294$1.8 million in the same period last year[13] Gross Profit - Gross profit for the quarter was $14.1 million, or 34$13.2 million, or 29% of net sales, in the same quarter last year[7] Backlog - The backlog as of October 31, 2024, was $114.2 million, compared to$68.5 million at January 31, 2024, indicating significant growth[1] Expenses - Selling expenses decreased to $1.2 million for the quarter, down from$1.5 million in the same quarter last year, due to lower payroll expenses[3] - General and administrative expenses for the quarter increased to $7.3 million, up from$5.7 million in the same quarter last year, primarily due to higher payroll expenses and professional fees[21] Tax Rate - The Company's effective tax rate (ETR) was 32% for the quarter, compared to 31% in the same quarter last year, reflecting changes in tax benefits recognition[9] Total Assets - Total assets increased to $160.7 million as of October 31, 2024, from$155.7 million at January 31, 2024[17]