$GHM
GRAHAM CORP

2022 Q1 Form 10-Q Financial Statement

#000095017022000902 Filed on February 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q3
Revenue $39.74M $28.77M $34.15M
YoY Change 54.79% 5.97% 22.15%
Cost Of Revenue $35.53M $28.21M $30.70M
YoY Change 71.71% 34.82% 51.54%
Gross Profit $4.211M $561.0K $3.443M
YoY Change -15.46% -90.99% -55.25%
Gross Profit Margin 10.6% 1.95% 10.08%
Selling, General & Admin $5.663M $4.729M $4.973M
YoY Change 29.29% -4.19% 17.01%
% of Gross Profit 134.48% 842.96% 144.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.602M $1.589M $1.588M
YoY Change 230.31% 224.29% 230.83%
% of Gross Profit 38.04% 283.24% 46.12%
Operating Expenses $6.072M $4.729M $4.973M
YoY Change 37.03% -4.19% 18.4%
Operating Profit -$1.861M -$4.582M -$702.0K
YoY Change -438.36% -454.92% -120.41%
Interest Expense -$143.0K $132.0K $129.0K
YoY Change -750.0% 13100.0% 4200.0%
% of Operating Profit
Other Income/Expense, Net $111.0K $111.0K $145.0K
YoY Change 85.0%
Pretax Income -$2.082M -$4.591M -$672.0K
YoY Change -463.99% -435.6% -119.11%
Income Tax -$657.0K -$861.0K -$180.0K
% Of Pretax Income
Net Earnings -$1.425M -$3.730M -$492.0K
YoY Change -467.27% -451.89% -117.93%
Net Earnings / Revenue -3.59% -12.96% -1.44%
Basic Earnings Per Share -$0.35 -$0.05
Diluted Earnings Per Share -$133.9K -$0.35 -$0.05
COMMON SHARES
Basic Shares Outstanding 10.64M 10.64M 10.68M
Diluted Shares Outstanding 10.64M 10.68M

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.74M $13.99M $16.46M
YoY Change -77.33% -79.81% -75.75%
Cash & Equivalents $14.74M $13.99M $16.46M
Short-Term Investments $0.00 $0.00 $0.00
Other Short-Term Assets $1.391M $1.905M $2.193M
YoY Change 171.68% 90.5% 56.64%
Inventory $17.41M $20.43M $17.72M
Prepaid Expenses
Receivables $27.65M $36.65M $27.88M
Other Receivables $459.0K $2.670M $2.149M
Total Short-Term Assets $87.22M $100.6M $95.44M
YoY Change -27.47% -18.37% -22.47%
LONG-TERM ASSETS
Property, Plant & Equipment $24.88M $25.22M $25.34M
YoY Change 41.24% 43.28% 44.78%
Goodwill $23.52M $22.82M $22.82M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $194.0K $202.0K $211.0K
YoY Change 88.35% -95.19% 100.95%
Total Long-Term Assets $96.47M $95.51M $96.40M
YoY Change 301.43% 338.1% 347.9%
TOTAL ASSETS
Total Short-Term Assets $87.22M $100.6M $95.44M
Total Long-Term Assets $96.47M $95.51M $96.40M
Total Assets $183.7M $196.1M $191.8M
YoY Change 27.32% 35.23% 32.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.66M $14.65M $16.14M
YoY Change -7.29% -7.28% 38.31%
Accrued Expenses $6.047M $5.414M $5.511M
YoY Change 30.66% -43.6% 42.51%
Deferred Revenue $25.64M $27.67M $21.94M
YoY Change 82.4% 44.73% -11.66%
Short-Term Debt $0.00 $9.750M $4.000M
YoY Change
Long-Term Debt Due $2.000M $2.000M $2.000M
YoY Change
Total Short-Term Liabilities $59.42M $68.57M $58.90M
YoY Change 36.38% 54.08% 29.17%
LONG-TERM LIABILITIES
Long-Term Debt $16.39M $17.00M $17.50M
YoY Change 48102.94%
Other Long-Term Liabilities $2.196M $2.320M $2.203M
YoY Change 65.71% 57.36%
Total Long-Term Liabilities $2.196M $19.32M $19.70M
YoY Change 1280.0% 1307.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.42M $68.57M $58.90M
Total Long-Term Liabilities $2.196M $19.32M $19.70M
Total Liabilities $87.20M $98.54M $89.98M
YoY Change 88.12% 106.58% 87.29%
SHAREHOLDERS EQUITY
Retained Earnings $77.08M $78.50M $83.40M
YoY Change -13.76% -7.46%
Common Stock $28.85M $28.69M $28.42M
YoY Change 1.77% 1.7%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.961M $3.085M $3.085M
YoY Change -76.11% -75.31%
Treasury Stock Shares $164.0K $172.0K $172.0K
Shareholders Equity $96.49M $97.54M $101.9M
YoY Change
Total Liabilities & Shareholders Equity $183.7M $196.1M $191.8M
YoY Change 27.32% 35.23% 32.65%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q3
OPERATING ACTIVITIES
Net Income -$1.425M -$3.730M -$492.0K
YoY Change -467.27% -451.89% -117.93%
Depreciation, Depletion And Amortization $1.602M $1.589M $1.588M
YoY Change 230.31% 224.29% 230.83%
Cash From Operating Activities $12.33M -$5.850M -$1.626M
YoY Change -615.59% -299.66% -177.06%
INVESTING ACTIVITIES
Capital Expenditures -$415.0K -$682.0K -$781.0K
YoY Change -40.54% 3.33% 69.78%
Acquisitions
YoY Change
Other Investing Activities -$719.0K $0.00 $0.00
YoY Change -14480.0% -100.0%
Cash From Investing Activities -$1.134M -$682.0K -$781.0K
YoY Change 63.64% 1.79% -103.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.44M 4.008M -246.0K
YoY Change 846.01% -461.08% -77.84%
NET CHANGE
Cash From Operating Activities 12.33M -5.850M -1.626M
Cash From Investing Activities -1.134M -682.0K -781.0K
Cash From Financing Activities -10.44M 4.008M -246.0K
Net Change In Cash 755.0K -2.524M -2.653M
YoY Change -118.02% -319.48% -112.54%
FREE CASH FLOW
Cash From Operating Activities $12.33M -$5.850M -$1.626M
Capital Expenditures -$415.0K -$682.0K -$781.0K
Free Cash Flow $12.75M -$5.168M -$845.0K
YoY Change -852.54% -243.96% -132.88%

Facts In Submission

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GRAHAM CORPORATION
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CY2021Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1.00
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.10
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.10
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25500000
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25500000
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
10810000
CY2021Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
10748000
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
10638000
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
9959000
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
1081000
CY2021Q1 us-gaap Common Stock Value
CommonStockValue
1075000
CY2021Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
27608000
CY2021Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
27272000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
78500000
CY2021Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
89372000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-6565000
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-7397000
CY2021Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
172000
CY2021Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
790000
CY2021Q4 us-gaap Treasury Stock Value
TreasuryStockValue
3085000
CY2021Q1 us-gaap Treasury Stock Value
TreasuryStockValue
12393000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
97539000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
97929000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
196080000
CY2021Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
144280000
us-gaap Profit Loss
ProfitLoss
-7348000
us-gaap Profit Loss
ProfitLoss
1986000
us-gaap Depreciation
Depreciation
2232000
us-gaap Depreciation
Depreciation
1458000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1765000
ghm Amortization Of Actuarial Losses
AmortizationOfActuarialLosses
725000
ghm Amortization Of Actuarial Losses
AmortizationOfActuarialLosses
799000
us-gaap Share Based Compensation
ShareBasedCompensation
599000
us-gaap Share Based Compensation
ShareBasedCompensation
821000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-22000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-3000
ghm Change In Fair Value Of Contingent Consideration
ChangeInFairValueOfContingentConsideration
-1900000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
152000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
776000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10964000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4220000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-2186000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
284000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-579000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-4999000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
933000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
76000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
3423000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
119000
ghm Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-744000
ghm Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-116000
ghm Increase Decrease In Defined Benefit Plan Assets For Plan Benefits Noncurrent
IncreaseDecreaseInDefinedBenefitPlanAssetsForPlanBenefitsNoncurrent
905000
ghm Increase Decrease In Defined Benefit Plan Assets For Plan Benefits Noncurrent
IncreaseDecreaseInDefinedBenefitPlanAssetsForPlanBenefitsNoncurrent
631000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-6058000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1401000
ghm Increase Decrease In Accrued Compensation Accrued Expenses And Other Current And Non Current Liabilities
IncreaseDecreaseInAccruedCompensationAccruedExpensesAndOtherCurrentAndNonCurrentLiabilities
465000
ghm Increase Decrease In Accrued Compensation Accrued Expenses And Other Current And Non Current Liabilities
IncreaseDecreaseInAccruedCompensationAccruedExpensesAndOtherCurrentAndNonCurrentLiabilities
1754000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
7553000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-8092000
ghm Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-663000
ghm Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-116000
ghm Increase Decrease In Long Term Portion Of Accrued Compensation Accrued Pension Liability And Accrued Postretirement Benefits
IncreaseDecreaseInLongTermPortionOfAccruedCompensationAccruedPensionLiabilityAndAccruedPostretirementBenefits
620000
ghm Increase Decrease In Long Term Portion Of Accrued Compensation Accrued Pension Liability And Accrued Postretirement Benefits
IncreaseDecreaseInLongTermPortionOfAccruedCompensationAccruedPensionLiabilityAndAccruedPostretirementBenefits
95000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-14552000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
670000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1909000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1462000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6000
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
37103000
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
5500000
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
71651000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
59563000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-55972000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
33092000
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
9750000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1000000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4599000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
20000000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
4599000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
15000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
35000
ghm Repayments On Lease Financing Obligations
RepaymentsOnLeaseFinancingObligations
157000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
150000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3524000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3292000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
41000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
23000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
24863000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3350000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
120000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
425000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-45541000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
30837000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
59532000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
32955000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13991000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
63792000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
97929000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2828000
CY2021Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1177000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
353000
CY2021Q2 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
8964000
CY2021Q2 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
41000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
103200000
CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-276000
CY2021Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1177000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
-23000
CY2021Q3 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
128000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
101852000
CY2021Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3412000
CY2021Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1170000
CY2021Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
269000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
97539000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
96724000
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1604000
CY2020Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1097000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
164000
CY2020Q2 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
23000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
94164000
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3094000
CY2020Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1098000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
330000
CY2020Q3 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
87000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
96577000
CY2020Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1526000
CY2020Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1097000
CY2020Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
327000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
97333000
us-gaap Debt Instrument Covenant Description
DebtInstrumentCovenantDescription
The Company determined that as of December 31, 2021, it did not meet its financial covenants required by its loan agreement to maintain a maximum total leverage ratio of 3.25 to 1.0, nor did it maintain a minimum fixed charge coverage ratio of 1.2 to 1.0. On February 4, 2022, management obtained a waiver from Bank of America waiving their right to call the debt immediately due and payable as of December 31, 2021. As a term of receiving the waiver, until such time as Bank of America has received all required financial information with respect to the Company for the period ending on or about March 31, 2022, and such financial information confirms to the Bank of America's satisfaction that no default exists at such time, the Company will not permit the principal balance outstanding under the line of credit with Bank of America to exceed $15,000. Absent a waiver or an amendment of the loan agreement, the Company anticipates that it will not meet these covenants as of March 31, 2022, which would be an event of default. Violation of its covenants under the loan agreement provides the bank with the option to accelerate the maturity of the term loan under the loan agreement, which carries a balance of $19,000 as of December 31, 2021 and the revolving credit facility, which has a principal balance outstanding of $9,750 as of December 31, 2021. If the Company's lenders accelerate the maturity of the term loan and the revolving credit facility, the Company does not have sufficient cash to repay the outstanding debt. These conditions and events raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that these financial statements were issued.
ghm Maximum Leverage Ratio Upon Acquisition
MaximumLeverageRatioUponAcquisition
3.25
ghm Minimum Fixed Charge Coverage Ratio
MinimumFixedChargeCoverageRatio
1.2
CY2021Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
19994000
ghm Change In Contract With Customer Asset
ChangeInContractWithCustomerAsset
4936000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
27665000
CY2021Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
14059000
ghm Change In Contract With Customer Liability
ChangeInContractWithCustomerLiability
13606000
CY2021Q4 ghm Contract With Customer Net Asset Liability Current
ContractWithCustomerNetAssetLiabilityCurrent
-2735000
CY2021Q1 ghm Contract With Customer Net Asset Liability Current
ContractWithCustomerNetAssetLiabilityCurrent
5935000
ghm Change In Contract With Customer Asset Liability Net
ChangeInContractWithCustomerAssetLiabilityNet
-8670000
CY2021Q2 us-gaap Contract With Customer Liability Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerLiabilityIncreaseDecreaseForContractAcquiredInBusinessCombination
6048000
CY2021Q4 ghm Contract With Customer Liability Revenue Recognized Including Acquisition
ContractWithCustomerLiabilityRevenueRecognizedIncludingAcquisition
5659000
ghm Contract With Customer Liability Revenue Recognized Including Acquisition
ContractWithCustomerLiabilityRevenueRecognizedIncludingAcquisition
18951000
ghm Change In Contract With Customer Asset
ChangeInContractWithCustomerAsset
4936000
us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
36141000
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
38273000
ghm Change In Contract With Customer Liability
ChangeInContractWithCustomerLiability
13606000
CY2021Q4 ghm Business Combination Adjustments To Initial Purchase Price Allocation Of Accounts Receivable
BusinessCombinationAdjustmentsToInitialPurchasePriceAllocationOfAccountsReceivable
80000
CY2021Q4 ghm Business Combination Adjustments To Initial Purchase Price Allocation Of Accounts Payable
BusinessCombinationAdjustmentsToInitialPurchasePriceAllocationOfAccountsPayable
80000
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28774000
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
27154000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
83077000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
71818000
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28774000
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
27154000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
83077000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
71818000
CY2021Q4 ghm Percentage Of Revenue From Contracts With Customers Excluding Assessed Tax Performance Obligation Satisfied At Point In Time
PercentageOfRevenueFromContractsWithCustomersExcludingAssessedTaxPerformanceObligationSatisfiedAtPointInTime
0.25
CY2020Q4 ghm Percentage Of Revenue From Contracts With Customers Excluding Assessed Tax Performance Obligation Satisfied At Point In Time
PercentageOfRevenueFromContractsWithCustomersExcludingAssessedTaxPerformanceObligationSatisfiedAtPointInTime
0.40
CY2021Q4 ghm Percentage Of Revenue From Contracts With Customers Excluding Assessed Tax Performance Obligation Satisfied Over Time
PercentageOfRevenueFromContractsWithCustomersExcludingAssessedTaxPerformanceObligationSatisfiedOverTime
0.75
CY2020Q4 ghm Percentage Of Revenue From Contracts With Customers Excluding Assessed Tax Performance Obligation Satisfied Over Time
PercentageOfRevenueFromContractsWithCustomersExcludingAssessedTaxPerformanceObligationSatisfiedOverTime
0.60
ghm Percentage Of Revenue From Contracts With Customers Excluding Assessed Tax Performance Obligation Satisfied At Point In Time
PercentageOfRevenueFromContractsWithCustomersExcludingAssessedTaxPerformanceObligationSatisfiedAtPointInTime
0.25
ghm Percentage Of Revenue From Contracts With Customers Excluding Assessed Tax Performance Obligation Satisfied At Point In Time
PercentageOfRevenueFromContractsWithCustomersExcludingAssessedTaxPerformanceObligationSatisfiedAtPointInTime
0.50
ghm Percentage Of Revenue From Contracts With Customers Excluding Assessed Tax Performance Obligation Satisfied Over Time
PercentageOfRevenueFromContractsWithCustomersExcludingAssessedTaxPerformanceObligationSatisfiedOverTime
0.75
ghm Percentage Of Revenue From Contracts With Customers Excluding Assessed Tax Performance Obligation Satisfied Over Time
PercentageOfRevenueFromContractsWithCustomersExcludingAssessedTaxPerformanceObligationSatisfiedOverTime
0.50
CY2021Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
24930000
ghm Contract With Customer Liability Consideration Received
ContractWithCustomerLiabilityConsiderationReceived
26509000
CY2021Q4 ghm Contract With Customer Receivables Billed But Not Paid Under Retainage
ContractWithCustomerReceivablesBilledButNotPaidUnderRetainage
2786000
CY2021Q1 ghm Contract With Customer Receivables Billed But Not Paid Under Retainage
ContractWithCustomerReceivablesBilledButNotPaidUnderRetainage
3747000
CY2021Q4 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
12000
CY2020Q4 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
9000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
46000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
561000
CY2021Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
272599000
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
3951000
CY2021Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
3490000
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
14997000
CY2021Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
12196000
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1480000
CY2021Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1646000
CY2021Q4 us-gaap Inventory Net
InventoryNet
20428000
CY2021Q1 us-gaap Inventory Net
InventoryNet
17332000
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
-3730000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
1060000
us-gaap Net Income Loss
NetIncomeLoss
-7348000
us-gaap Net Income Loss
NetIncomeLoss
1986000
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10638000
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9977000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10507000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9950000
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.35
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.70
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
-3730000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
1060000
us-gaap Net Income Loss
NetIncomeLoss
-7348000
us-gaap Net Income Loss
NetIncomeLoss
1986000
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10638000
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9977000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10507000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9950000
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10638000
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9977000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10507000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9950000
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.35
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.70
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
33000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
37000
CY2021Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
449000
CY2020Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
308000
CY2021Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
626000
CY2020Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
359000
ghm Product Warranty Accrual Acquired
ProductWarrantyAccrualAcquired
169000
CY2021Q4 ghm Product Warranty Income Expense
ProductWarrantyIncomeExpense
19000
CY2020Q4 ghm Product Warranty Income Expense
ProductWarrantyIncomeExpense
28000
ghm Product Warranty Income Expense
ProductWarrantyIncomeExpense
-2000
ghm Product Warranty Income Expense
ProductWarrantyIncomeExpense
23000
CY2021Q4 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
35000
CY2020Q4 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
21000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
360000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
67000
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
433000
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
315000
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
433000
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
315000
ghm Product Warranty Income
ProductWarrantyIncome
2000
us-gaap Interest Paid Net
InterestPaidNet
263000
us-gaap Interest Paid Net
InterestPaidNet
9000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1388000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
51000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
80000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
37000
us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
610000
ghm Noncash Or Part Noncash Acquisition Equity Instrument Consideration Value Of Treasury Shares Issued
NoncashOrPartNoncashAcquisitionEquityInstrumentConsiderationValueOfTreasurySharesIssued
8964000
CY2021Q3 ghm Pension Adjustments Net Of Income Tax
PensionAdjustmentsNetOfIncomeTax
68000
CY2021Q4 ghm Self Insured Medical Plan Liability
SelfInsuredMedicalPlanLiability
133000
CY2021Q1 ghm Self Insured Medical Plan Liability
SelfInsuredMedicalPlanLiability
184000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
269000
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-563000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
832000
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
416000
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-614000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1030000
ghm Lessee Operating Lease And Finance Lease Option To Renew Or Terminate
LesseeOperatingLeaseAndFinanceLeaseOptionToRenewOrTerminate
Certain leases include options to renew or terminate. Renewal options are exercisable per the discretion of the Company and vary based on the nature of each lease.
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M1D
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y7M17D
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.1067
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.1077
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y8M19D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M1D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0327
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0549
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
5000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
5000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
15000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
15000
CY2021Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1000
CY2020Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
4000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
6000
CY2021Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
384000
CY2020Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
41000
us-gaap Operating Lease Cost
OperatingLeaseCost
924000
us-gaap Operating Lease Cost
OperatingLeaseCost
122000
CY2021Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3000
CY2020Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
18000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
7000
CY2021Q4 us-gaap Lease Cost
LeaseCost
393000
CY2020Q4 us-gaap Lease Cost
LeaseCost
49000
us-gaap Lease Cost
LeaseCost
961000
us-gaap Lease Cost
LeaseCost
150000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
342000
CY2021Q4 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
7000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1325000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
26000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1183000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
11000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1164000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1169000
CY2021Q4 ghm Lessee Operating Lease Liability Payments Due Year Five And After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndAfterYearFive
4856000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
10039000
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
44000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1223000
CY2021Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
4000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
8816000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
40000
CY2021Q2 us-gaap Line Of Credit Facility Commitment Fee Percentage
LineOfCreditFacilityCommitmentFeePercentage
0.0020
CY2021Q2 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.0025
CY2021Q2 ghm Maximum Leverage Ratio
MaximumLeverageRatio
3.0
CY2021Q2 ghm Maximum Leverage Ratio Upon Acquisition
MaximumLeverageRatioUponAcquisition
3.25
CY2021Q2 ghm Maximum Leverage Ratio Covenant Period Upon Closing Of Acquisition
MaximumLeverageRatioCovenantPeriodUponClosingOfAcquisition
P12M
CY2021Q2 ghm Minimum Fixed Charge Coverage Ratio
MinimumFixedChargeCoverageRatio
1.2
CY2021Q2 ghm Percentage Of Minimum Margined Assets On Outstanding Facility
PercentageOfMinimumMarginedAssetsOnOutstandingFacility
1
CY2021Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
8399000
CY2021Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
11567000

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