The quarter and nine months ended October 31, 2010 had MFRI claiming increased sales of11.9% to $58.8 million. This comes as pleasant news for the ones attached with the company. In fact now comparing this with the last year’s corresponding sales of $52.6 million and one a may realize for himself of the sharp rise. The net income this year was again an impressive $3.6 million as compared with the much lesser $0.7 million last year.
Even if one does a comparing of Gross profits, it has been great this year again comparing with the corresponding last year’s quarter. It went up to $13.6 million or 23.0% of sales this year and was $12.5 million or 23.8% last year. On the other hand, the expenses also decreased when compared with last year. It was down this year to $10.5 million from $10.7 million last year. The Net income went up to $3.6 million from $0.7 million last year.
In the mean while industrial process cooling markets is also showing positive signs of growth. Although the market conditions remain uncertain there has been a visible rise in orders as taken and sales in the mean while. As compared with last year, the net sales have impressively gone up to 1.5% for the quarter and 12.0% year-to-date. This is but of course as compared with last year’s net sales.
The multi-line company that MFRI is it is simply involved in a number of sectors. To cite a few; production of pre-insulated specialty piping systems for oil and gas gathering, district heating and cooling and other applications, installation of heating, ventilation and air conditioning for large buildings are just some of the things the company is into.
Cool energy provides water cooled chillers which are Eurovent certified and have the advantage lower power usage. Water cooled rental chillers from Cool Energy are capable of offering cooling up to 1,290kW from one single chiller unit.
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