You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text. 
Text: If you do not have the releases or the slides you can find them on the company's website at www.
Jim will start with an overview of the acquisition and cover the results of the quarter in the year as well as provide our financial guidance for fiscal 2022.
Jeff will then review details of the transaction and we will have Dan discuss Barber-Nichols.
These risks and uncertainties and other factors are provided in the releases and in the slide decks as well as with other documents filed by the company with the Securities and Exchange Commission.
These documents can be found on our website or at sec.gov.
I also want to point out that during today's call we will discuss some non-GAAP financial measures, which we believe are useful in evaluating our performance.
We appreciate you joining Graham's year end earnings call and also to join in our discussion about Barber-Nichols, a $70 million transformative acquisition we closed today.
This is truly an exciting day at Graham, one that benefits all stakeholders, Graham shareholders, employees at both Barber-Nichols and Graham, customers, suppliers, Arvada, Colorado and Batavia, New York communities from which we draw our workforce talent and create stable well paying employment and provide a place where employees are stimulated, challenged, developed, rewarded and able to build long-term careers.
Thus we will go through year-end results and quickly move into discussing the excitement surrounding adding Barber-Nichols to Graham Corporation.
I will begin my remarks with Slide 3.
Let me start by stating I am thrilled to have completed this acquisition.
It was nearly three years in the process to get this done, initially engaging with Barber-Nichols in late summer of 2018, when Jeff first visited.
Just immediately identified BNI met most of the critical criteria for what Graham strategically wanted in an acquisition.
As we have discussed in the past, our process for identifying acquisition targets is to establish necessary key attributes of a target such as, but not limited to values and culture, IP protected products and market served operations model and revenue range.
Chris is responsible for developing the messaging for each target, creating the compelling reasons as to why Graham is an ideal strategic acquirer and outlining the value of a proposed combination.
Most often the target isn't necessarily for sale, which was the case with BNI.
Fortunately Dan Thoren, the President of BNI was intrigued by Chris's messaging and agreed to have an initial discussion that took time to earn trust, develop relationships and establish the value contributions of both organizations to the combination and agree on terms of the transaction.
Jeff, Alan Smith, Chris and I were impressed right away by Dan and the BNI management team that are remaining with us as well as BNI's culture, which represents one of their most important assets.
The employee engagement, level of positivity, passion for the company and can do approach to their business all confirmed Dan and the BNI team have created something very special and extremely powerful.
The time it took to complete the deal permitted us to observe Dan and team in action and their ability to make stretch commitments and deliver on those commitments.
We first engaged with BNI at a time when they were ramping up calendar 2018 at $40 million, up from $30 million a year earlier.
Over the ensuing two years, it was wonderful to observe the planning and forecasting processes and importantly their ability to deliver forecasted results culminating in $56 million of revenue for calendar year 2020.
This demonstrated to us that BNI has strong management capabilities and their systems at BNI have the necessary controls and that the business processes are scalable to drive future growth.
Barber-Nichols is an outstanding company.
We are fortunate to have them become part of Graham Corporation effective today.
Jeff will go through the deal rationale in detail and Dan will provide an overview of Barber-Nichols.
However, what I viewed compelling about Barber-Nichols was it fulfilled our goal of diversifying into the defense market, which provides greater stability, multiple year visibility, incredible long-term asset base loading.
The wonderful aspect about BNI products is there is no overlap with Graham's.
We serve the defense shipbuilders specifically the nuclear propulsion program while BNI serves offensive and defensive systems for the ships.
In addition, BNI serves the commercial space market with sophisticated and advanced technologies for rocket engine fuel systems and space life support systems.
This is expected to be an expanding long-term growth market due to the Internet of Things, growing communication networks and the ever-increasing way in which people throughout the world are interconnected.
Thus today we had new market segment revenue within the defense industry and also bring new markets such as commercial space, advanced power generation, alternative energy along with capabilities for system integration.
Importantly, the acquisition of Barber-Nichols is a catalyst for immediate improvement in revenue and profitability with top line expanding approximately 50% due to the addition of BNI for the 10 months in fiscal 2022 that we own them and it provides a terrific platform for follow-on organic and acquisitive growth.
I am very pleased and excited to have Barber-Nichols become part of Graham.
Actually, I've been remiss, I have mentioned Dan Thoren a couple of times.
Dan, is on the call as Deb had mentioned.
Dan was President and CEO of Barber-Nichols until this past May when he moved to Chair of the Board.
Dan joins Graham Corporation as President and Chief Operating Officer and will report directly into me.
Dan will be responsible for near and long-term performance of both Barber-Nichols and Graham's historic defense, energy and petrochemicals businesses.
Dan will work with Matt Malone, our Vice President, General Manager for Barber-Nichols.
Matt is the current President and CEO at Barber-Nichols.
Dan also will work with Alan Smith, our Vice President and General Manager for Graham.
You're all familiar with Alan and the terrific job he has done as our General Manager.
I'm really excited to get into the detailed discussion about Barber-Nichols, and its benefit to long-term shareholder return.
However, let's walk through the fourth quarter and year-end results.
I will take you through the fourth quarter performance, full year results and fiscal '22 guidance.
Jeff will walk you through the strategic rationale and deal structure and then Dan grabs the ball to provide an overview of Barber-Nichols.
I am now referring to Slide 4.
A key facet of our diversification strategy is to add revenue streams uncorrelated to energy.
Revenue that is less volatile and provides a long runway for growth and importantly offers high levels of multiple year asset base loading.
The acquisition of Barber-Nichols fulfills that objective perfectly.
Moreover, Graham's organic defense revenue reached 25% of consolidated sales and was in the mid $20 million range for fiscal 2021.
We expect modest growth in fiscal 2022 and then move into the mid $40 million range by fiscal 2025.
Complemented by Barber-Nichols defense revenue, we believe the combination will quickly approach $100 million in defense sales.
Our commitment to our installed base for crude oil refining and petrochemical markets will continue to bear fruit.
Everything we read here and observe supports continued investment in existing assets for mature markets and new capacity capital investment in emerging economies.
Graham's shift into competing in price sensitive segments of our energy and petrochemical markets, supported by innovation of our operations model has changed our participation and success in these previously underserved segments.
This strategy has been 10% to 15% of sales.
Last year was at a comparable level in fiscal 2020.
The team has done well to navigate the selling cycle to get us in position to win and also -- sorry, and also the execution side working with the global supply chain for component fabrication has created cost efficiencies and execution capacity for us.
Importantly, Alan and his team achieved margins projected for the orders completed thus far.
A key business initiative is to expand the capacity of our production workforce.
Today, we need to grow our capacity within our production workforce by 20% in Batavia.
That will permit backlog conversion velocity to improve and also expand margins due to operating leverage and reduction in subcontracting.
Energy and petrochemical markets feel different today than six months ago.
That is encouraging, however, the bid pipeline has a long way to rebuild before returning to pre-2020 levels.
We are watching this closely during the next few quarters, cost measures have not been taken due to the need to have depth across the company's sales, engineering, quality, manufacturing, IT and other critical departments.
It takes a long time to build a proficient knowledge worker at Graham.
We continue to evaluate near-term benefit and long-term implications of cost reduction measures.
We elected to protect the strength of Graham during this Black Swan event caused by COVID-19.
Let's move on to Slide 5.
Fourth quarter sales were $25.7 million.
Defense sales were strong at $6.5 million.
Also was revenue lift from short cycle sales, driven by the freeze in the US Gulf Coast region.
Also and importantly 15% to 20% of sales were due to our success penetrating the price sensitive segment of the refining market.
Earnings per share was $0.04 with net income at $400,000.
On March 31, cash was $65 million of which approximately $40 million was used for the acquisition of Barber-Nichols.
Backlog on March 31 was $137.6 million with $104 million for the defense market and acquiring Barber-Nichols approximately $100 million of backlog was added effective today.
Nearly $240 million multi-year backlog is a valuable asset for Graham.
Please move on to Slide 6.
Year-over-year revenue increased to 11% and gross profit 14%.
Profitability and margin were pressured due to decisions we made not to address business cost during the pandemic and also our inability to quickly expand production personnel.
Government support during the pandemic has made it difficult to compel potential workers to join the Graham team.
This should improve in the coming quarters, but is a headwind now as we want to convert more existing backlog more quickly by having a larger production workforce.
We have the infrastructure but not the human resources.
Let's move on to Slide 7.
Alan Smith and the operations team performed remarkably in achieving full year revenue of $97.5 million.
Due to COVID-19, full year throughput capacity was at 85% as an average of what our production workforce could produce if unaffected by lost time due to COVID.
This made planning and management of backlog conversion difficult.
Alan and his team did fantastic even though that is not apparent in the results.
Here too profitability and margins were under pressure due to under-absorption caused by 15% lower throughput and also strategic decisions to hold personnel at pre-COVID levels.
On to Slide 8.
We had strong defense bookings of $69 million for the year.
Energy and petrochemicals stayed mired due to demand destruction stemming from the range of implications of COVID-19.
We do have a terrific backlog that at March 31, as I said earlier was $137.6 million, up $25 million year-over-year.
Importantly, and again Barber-Nichols adds roughly $100 million into our backlog bringing the combined total to just under $240 million.
$40 million of Barber-Nichols backlog is expected to contribute to fiscal 2022 revenue for the 10 months we own them.
40% to 45% of our organic backlog is expected to convert into revenue during fiscal 2022.
Now let's move on to the guidance slide.
Full year revenue range is $130 million to $140 million with $45 million to $48 million from Barber-Nichols and the remainder being organic revenue.
Adjusted EBITDA is expected to be between $7 million and $9 million.
Once we complete purchase accounting treatment of the BNI acquisition, we will be in a position to provide gross margin and SG&A guidance.
This was an exciting start to the fiscal 2022.
Large elements of recent diversification strategies have come together to dramatically improve fiscal '22 results and more importantly reshape Graham's future with a path to stronger total shareholder returns.
The Barber-Nichols acquisition is transformative for Graham.
There is a platform for follow-on organic and M&A investment to propel growth.
Graham's defense revenues in the mid $20 million range with growth anticipated to yield more than $40 million of revenue by fiscal 2025.
Importantly, we are beyond first article operations and therefore margins should improve as well.
Just as a reminder, first article operations are first time fabrications that involved production R&D, production of jigs and fixturing and defining ideal build flow or order of operations.
Once beyond first article work, productivity gains should be achieved.
I am pleased by our success in winning work and previously underserved price focus segments of the energy and petrochemicals markets that represented 15% of sales fiscal '19 through '21.
It's also worth noting $7 million of new orders were secured during the month of May from the crude oil refining market.
We became involved in these opportunities in early 2019.
It is great to see significant order releases from this end market.
Both are from the installed base.
One is for US Gulf Coast refiner undertaking a revamp to enable use of lower cost, lower quality feedstocks.
The other is a Mideast refiner debottlenecking the refinery to provide more gasoline and diesel fuels to meet local demand.
With those remarks, I want to pass the call over to Jeff and Dan to walk through the acquisition.
If you could turn to the Barber-Nichols acquisition deck.
If you look at Slide 2, you will see we have a Safe Harbor statement similar to that which was in the earnings deck and I'll allow you to review rather than me reading through it.
Moving on to Slide 3.
It's great to be speaking with you from Barber-Nichols here in Denver with Dan Thoren.
As Jim mentioned, we have been working at Barber-Nichols for quite a long time.
My first visit to the Denver facility was in August of 2018, when Dan was graciously willing to meet with me.
Barber-Nichols which I may refer to as BNI is a great fit for Graham, since it meets all the criteria that most of you have heard me describe over the past several years.
It is clearly a transformative acquisition for Graham.
Certainly the most exciting activity in my time at Graham and probably in the history of the company.
It will increase the size of Graham by 60% on a pro forma basis and immediately accelerates our diversification strategy.
We expect to see 10 months of revenue in fiscal 2022 or approximately 50% growth.
BNI expands our defense business from $24 million in fiscal 2021 to a run rate of approximately $65 million to $70 million currently.
Since there was no overlap with our current defense business, this dramatically expands our platform.
Barber-Nichols also has a $10 million in the aerospace business which is mostly related to the space industry.
This will be another exciting market for us.
Looking forward, we expect more than half of our business to come from defense and aerospace.
This is a fantastic complement to our refining and petrochemical platform.
Along with defense and aerospace, BNI offers us opportunities for growth in cryogenics and advanced energy.
As Jim mentioned with a backlog of $100 million in addition to Graham's backlog of $137 million, we have a combined backlog of nearly $240 million of which 80% is in defense and aerospace.
This increased multiyear visibility reduced volatility of revenue and earnings and ability to grow organically and via M&A across multiple platforms is exciting.
We clearly see some exciting organic growth opportunities.
And yes, to be clear, once we have Graham and Barber-Nichols working well together, we intend to look for more M&A growth opportunities.
Chris Johnston and I are excited to engage with Dan to identify further businesses to add to BNI.
As part of the deal, the owners of Barber-Nichols wanted some skin in the game, so approximately $9 million in Graham shares were part of the purchase consideration.
This represent 610,000 shares or approximately a 6% increase in shares outstanding.
I have mentioned numerous times that we would use a little equity if it made sense.
Clearly having the BNI owners, who are remaining with us post acquisition to ask me for a stake in Graham was another positive aspect of the deal.
The transaction is expected to bring some very nice accretion, though the initial purchase accounting will likely put a near term damper on it.
Finally Barber-Nichols brings a strong management team, led by Dan Thoren who has nearly 30 years of Barber-Nichols, 24 of which as its President.
Dan is now ascending to President and Chief Operating Officer of Graham to utilize his capabilities across all of the combined company.
Matt Malone, has taken over as the new President of BNI.
Matt has strong leadership skills, a very high energy level which I expect will drive BNI toward a very successful future.
The remaining leadership team at BNI is similarly top notch.
This is a fantastic team that we are gaining along with the business.
On to Slide 4.
Let me talk briefly about the deal structure.
Graham paid $70 million made up of $61 million of cash and $9 million of stock for 610,000 shares.
Out of the $61 million, $41 million was in cash from our balance sheet and we entered into a $20 million term loan for the remainder.
This leaves us with over $20 million of cash, so our net debt position is zero, but it gives us flexibility to go after future organic and M&A investments.
There is an earn out provision based on fiscal 2024, essentially the third year of the deal, which will allow up to $14 million in additional cash payments.
The earn out has a threshold, which if met would kick in at $8.75 million of EBITDA in fiscal 2024 and provide a $7 million payout.
If the EBITDA achieved that year is $11 million, the payout increases to a maximum level of $14 million.
Between those two EBITDA numbers the earn out would be interpolated.
This acquisition assumed no synergies.
We believe there will be benefits for the combined organization but not needing them to justify the deal was great.
Will Graham bring some capabilities to Barber-Nichols, I believe so.
But just as likely I believe Barber-Nichols will bring new capabilities to our current Graham team.
I mentioned Dan and Matt earlier, they will become Graham named executive officers at our Annual Meeting at the end of July.
On to Slide 5.
Along with the excitement of the acquisition, we also now have a far more efficient balance sheet.
While having a lot of cash was comforting that dormant cash did not achieve a return for our shareholders.
You all know that I've desperately wanted to utilize that cash for growth and a stronger return.
Now with Barber-Nichols, I'm confident that it will.
We have entered into a new bank relationship with Bank of America and it includes a $20 million term loan, which I mentioned earlier as well as a $30 million revolver.
We also have a $10 million accordion feature available on top of that $30 million revolver.
We do not expect to utilize the revolver much in the near term, but it will -- it provides us with more dry powder and flexibility going forward.
We continue to have a relationship with HSBC now with the $7.5 million cash secured facility for certain bank guarantees in geographies where they have a strong presence.
Overall, our balance sheet will look much different, but in my view it will be far more efficient rather than overly conservative.
We are now using our balance sheet for growth today and more so going forward.
On to Slide 6.
When our business development team that would be Chris and I, talked about an ideal fit for Graham, we could not have picked a better match than BNI.
Before I continue, I would like to recognize Chris Johnston again.
He has been working behind the scenes, most of you have not met him, but as I've told many of you, he does a fantastic job for both M&A and as well as organic opportunities for us.
He is a great partner and a great leader on our team.
Now I'd like to speak briefly about Barber-Nichols and then we'll pass over to Dan to provide far more depth on the business.
Barber-Nichols is based in Arvada, Colorado, the suburb of Denver.
They have a 55-year history of engineering, development and innovation.
As a former engineer myself, they have some real cool capabilities here.
They have over 150 employees, which is double what they had just four or five years ago.
We are looking forward to adding more employees at a similarly rapid pace to support Barber-Nichols' future growth.
They recently completed construction of a 43,000 square foot state-of-the-art manufacturing plant.
This is nearly double their facility size and I cannot wait to bring some of you through the facility for a tour.
The leadership team at BNI is outstanding and most importantly, the entire workforce is tremendously skilled, continually enhancing their training and extremely engaged.
Now that I've set the bar high, I will pass over to Dan Thoren, Graham's new President and Chief Operating Officer, who will provide much more depth about Barber-Nichols.
I'm happy to be with you and provide more background on BNI.
We'll just kind of hang out on Slide 6 here and I'll tell you more about us.
Barber-Nichols is a team of about 150 engineers, machiners, inspectors, technicians, and support personnel that engineer and build specialty pump, turbine and compressor systems that are used in the highly sophisticated applications like submarines, rockets, physics research facilities, advanced power plants and thermal management systems.
We've talked a lot about numbers so far, but it's our people and the work environment that we nurture that make the numbers happen.
We have an amazing team.
Many of us came from large aerospace defense or industrial companies.
I came from a large aerospace company with 5,000 employees at my location.
I walked into BNI when it had 35 people and I was amazed that these 35 people were doing what my company was doing with 5,000, albeit at a much smaller scale.
I was sold on BNI and I decided I had to work there.
Many of us who came from a much larger companies found they can-do, continual learning, relationship driven culture at BNI invigorating.
While it's been tough during COVID, we do spend a lot of time helping our people understand the importance of what our customers are trying to do.
We excel when we are part of our customers team.
We are fully engaged during development of our equipment and their systems and we share our customers anticipation during first launch.
One last comment before we move to Slide 7.
BNI leaders and employees like to have skin in the game, Jeff talked about this.
One of the alluring aspects of this transaction was the ability to have meaningful ownership in a micro-cap company like Graham.
Most BNI stockholders took stock and many employees will now get to buy stock in their company.
That is a powerful incentive when you know your daily efforts will benefit you and your fellow investors.
Now let's move to Slide 7.
Most of Barber-Nichols business comes from defense and aerospace.
The US Navy is a large customer for submarine, Torpedo ejection systems and Torpedo power systems as well as aftermarket parts and overhaul.
Thermal management systems are used in a variety of power dense electronics and other power applications.
For Aerospace, our involvement is broader with thermal management systems, fluid management systems, propulsion and power systems that support vehicles and satellites and environmental control in life support systems for our heroes.
Slide 8 is next.
When Kim Nichols and Bob Barber started BNI, their first customer was the US Navy, for whom they designed high speed turbines.
Another near founder Jim Dillard got us involved in a prototype air turbine pump used for Torpedo ejection systems and US Navy submarines using a special manufacturing process called electrochemical machining.
This initial engineered product development focus has been leveraged into production manufacturing on several Navy programs.
We are now seeing full lifecycle with spare parts and overhaul of these systems.
Please turn to Page 9.
NASA has been a front customer over the years and we designed and built several cryogenic pumps for them in our early years.
My first job with NASA was on the ground based trainer for the space shuttle manipulator arm.
NASA also gave us our first opportunity to design and build a rocket engine turbopump using our cryogenic pump and hot gas turbine knowledge.
That early experience in 1997 through 2000 set us up well for the new space companies that have been busy developing commercial space launch services over the last 10 years.
I'm now moving to Slide 10.
BNI works across many markets and that ability has served us well over the years as all markets go through cycles.
When we are able to move from one market in decline to another on its way up, we can manage our business much better.
In the physics research arena, BNI is known worldwide as a specialty cryogenic pump supplier.
We also work with all of the air separation giants that separate oxygen and nitrogen and argon and other gases into industrial gases.
BNI's cryogenic blowers are installed in North American LNG import terminals and satellite test chambers around the world.
Since day one, BNI has been involved in advanced energy systems, building and commissioning geothermal power plants and concentrated solar power systems.
More recently, we have been involved in fuel cell power plants making anode and cathode blowers.
The new administration plans to spend more money on alternate energy storage and power gen and we see opportunity in specialty pumps for hydrogen fueling systems.
On to Slide 11.
Slide 11 gives another view of BNI from a product perspective.
One thing that jumps out that hasn't been apparent on the earlier slides is the motor generator controller product area.
When I first joined BNI, we used generation one variable frequency drive to push 3,600 RPM motors to 5,000 RPM.
The higher speed provides a more power dense turbine machine.
Since then we have driven pumps to 30,000 RPM and compressors to over 100,000 RPM.
We are now designing and building the electronic boxes that drive our motors and condition the power from our generators, sometimes doing both in the same machine.
As you can tell, I'm passionate about our people, our customers and our technologies.
I'm also very excited to learn about the employees of Graham.
Their families and their dreams, their customers and their products, together, I believe we'll do some amazing things.
Jim, I think we're back to you, my man.
I am now referring to Slide 12.
On the integration side, the operating models between BNI and Graham are different.
Graham produces large complex welded fabrications to a very tight tolerances and BNI produces very tight tolerance highly machined fabrications.
The asset bases are different in Arvada for BNI and in Batavia for Graham.
Also, the markets or segments of the markets served by BNI and Graham are different.
The transaction value as Jeff had outlined is not predicated on realizing synergies.
Of course, there may be some, however, Arvada and Batavia will run as independent operating businesses under one umbrella.
Initial integration is related to benefit plans, accounting and finance systems and public company compliance and strategic capital investment governance.
There are BNI systems and program management processes Dan and Matt's Arvada business can share with Alan's defense team.
Also there are Batavia constraint management processes and performance improvement techniques, Allan's Batavia team can share with Matt's team in Arvada and working together to share best practices, we believe margin gains can be realized in both businesses.
With Dan Thoren in the Chief Operating Officer role, working with both Matt and Alan, the talent pool is now nearly 500 person combined organization that is deep and very strong.
Dan of course knows Barber-Nichols deeply and much has been shared with Dan about Graham and in the coming quarters Dan will learn more about Graham, it's people, our culture, our markets, our customers and our competitors in the passion that every Graham employee has for ensuring our customers are successful and that Graham is successful.
I will be thrilled to continue to work directly with Dan in driving both businesses.
Let's move on to Slide 13.
This graphic projects the transformation the BNI acquisition provides.
For fiscal 2021, Graham was approximately $100 million of revenue with an end market breakdown of 41% to refining, 25% to defense industries, 24% to chemical and petrochemical markets and 10% to various other end markets.
A pro forma projection of fiscal 2022 following the BNI acquisition is for revenue to be between $130 million and $140 million comprised of 45% for defense, 26% for refining, 16% for chemical and petrochemical end markets, 6% to aerospace and 7% to other end markets served by the combined entity.
Excitingly, there is further growth in defense by entering new programs, accelerating backlog conversion and from additional mergers and acquisitions.
Refining end markets also provide growth simply from a recovery from the pandemic, also from strategies and acted to shift position in underserved price sensitive segments and our continued focus on the installed base.
For chemicals and petrochemicals like refining have the same growth options with strategic actions already enacted.
Aerospace and commercial space market is expected to grow.
BNI with its cryogenic and triple pump technology is an important supplier to this market.
There is much growth runway in this end market.
With the addition of BNI growth prospects for Graham, Graham is becoming an outstanding industrial.
I will conclude with Slide 14.
The acquisition of BNI, deployed capital to expand our presence and diversified revenue from the defense industry and also provide access to an expanding aerospace market.
Importantly, it adds significantly to our less cyclical revenue streams that reduced financial results volatility.
Defense and aerospace valuation multiples are stronger now than those in energy and chemicals due to end market fundamentals and visibility into future orders.
As we continue to grow defense and aerospace revenue, we anticipate that will enhance Graham's valuation multiple.
A catalyst was needed to break out of the revenue range Graham was in.
BNI provides that catalyst.
And that fiscal 2022 revenue is expected to be approximately 50% stronger than without Barber-Nichols.
Beyond 2022 with the addition of BNI it creates follow-on acquisition opportunities along with organic growth that is meaningful.
Once Graham's traditional refining and chemical markets get beyond the pandemic, that will provide further revenue and margin improvement.
We structured our balance sheet to take on low-cost debt and provide flexibility to invest in additional acquisitive growth or substantial organic investment that may be necessary as new defense, aerospace programs are secured.
I trust you share the excitement that Jeff and I have about adding BNI to Graham and then having Dan join our leadership team.
Fiscal 2022 is an exciting new chapter for Graham.
We have talked a lot thus far, let us open the line now for Q&A.

user
compname posts q4 earnings per share $0.04.
q4 earnings per share $0.04.
q4 sales $25.7 million versus refinitiv ibes estimate of $24.7 million.
revenue in fiscal 2022 is expected to be $130 million to $140 million.
expects approximately 40% to 45% of backlog will convert to revenue in fiscal 2022.

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