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Graham turns a small profit on flat sales

Graham Corp. turned a small profit during the third quarter as the Batavia manufacturer was hurt by delays in starting work on some of its orders.

Graham earned $500,000, or 1 cent per share, during the quarter that ended in December, which was an improvement from its loss of $11.6 million, or $1.19 per share, a year ago.

The company had an operating loss of 600,000, compared with an operating loss of $15.4 million a year ago.

Sales were down slightly to $17.2 million from $17.3 million, with revenues rising from its refining and power markets customers, while declining in the chemical and petrochemical segment, as well as the commercial, industrial and defense market.

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