Gencor releases first quarter fiscal 2022 results

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.
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