Peerless Mfg. Reports Q1 FY 2008 Financials Nov 7, 2007

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Peerless Mfg. Co. reported its financial results for the three months ended Sept. 30, 2007. Revenues for the first quarter of fiscal year 2008 were US$30 million, an increase of $15.4 million, or 105.1%, compared to revenues of $14.6 million for the first quarter of fiscal year 2007. The company recorded net earnings for the first quarter of fiscal year 2008 of $3.4 million or $0.52 per diluted share, an increase of $2.9 million compared to net earnings of $451,000 or $0.07 per diluted share for the first quarter of fiscal year 2007.

The Environmental Systems segment revenues for the first quarter of fiscal year 2008 were $16.3 million, an increase of $11.7 million compared to revenues of $4.6 million for the first quarter of fiscal year 2007. The Separation/Filtration Systems segment revenues for the first quarter of fiscal year 2008 were $13.7 million, an increase of $3.7 million compared to revenues of $10 million for the first quarter of fiscal year 2007.

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