Ceco environmental reports fourth quarter and full year 2021 results

Delivered continued quarterly bookings growth and sequential increases in revenue and margins   dallas, march 14, 2022 /prnewswire/ -- ceco environmental corp. (nasdaq: cece), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, today reported its financial results for the fourth quarter and full year results of 2021. highlights of the fourth quarter 2021* revenue of $93.6 million, compared with $82.9 million gross profit of $28.5 million (30.5% margin), compared with $26.2 million (31.6% margin) operating income of $5.3 million, compared with $3.7 million non-gaap operating income of $7.7 million, compared with $8.8 million net income of $1.2 million, compared with $1.8 million non-gaap net income of $3.4 million, compared with $5.6 million adjusted ebitda of $9.1 million, compared with $9.9 million bookings of $90.6 million, compared with $77.2 million backlog of $213.9 million, compared with $183.1 million net income per diluted share of $0.03, compared with $0.05 non-gaap earnings per diluted share of $0.10, compared with $0.16 bank debt of $65.5 million, compared with $74.0 million repurchased approximately 177,000 shares of common stock at cost of $1.3 million highlights of full year 2021* revenue of $324.1 million, compared with $316.0 million gross profit of $100.9 million (31.1% margin), compared with $105.1 million (33.3% margin) operating income of $9.9 million, compared with operating income of $13.3 million non-gaap operating income of $19.1 million, compared with $28.2 million net income of $1.4 million, compared with $8.2 million non-gaap net income of $9.8 million, compared with $19.5 million adjusted ebitda of $25.0 million, compared with $32.8 million bookings of $360.8 million, compared with $279.6 million net income per diluted share of $0.04, compared with $0.23 non-gaap earnings per diluted share of $0.28, compared with $0.55 repurchased approximately 699,000 shares of common stock at cost of $5.0 million *all comparisons are versus the comparable prior year period, unless otherwise stated "our continued orders growth in the fourth quarter capped a year in which we grew overall bookings 29 percent and put ceco in position for solid growth in 2022," said todd gleason, chief executive officer.
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