Espey's Q1 sales rise but backlog and orders fall
ESP•Espey's fiscal Q1 sales rose year over year to $10.61 million, while net income was nearly flat. New orders fell to $2.6 million from $10.5 million, and backlog declined to $126.7 million from $141.1 million.
1. Sales and earnings
Espey's fiscal first-quarter sales rose year over year to $10.61 million. Earnings per share were $0.75, and net income was nearly flat year over year.
2. Orders and backlog
New orders received in the quarter were $2.6 million, down from $10.5 million a year earlier. Backlog at September 30 was $126.7 million, compared with $141.1 million last year. The company said gross profits remain sensitive to product mix and management is focused on bookings execution and cost management for fiscal 2027.
