Velan Inc. Reports Solid Third Quarter 2022/23 Financial Results, With an Improving Trend in Backlog, Revenues and Profit
Bookings2 for the quarter amounted to $99.2 million, an increase of $10.7 million or 12.1% compared to the third quarter of last year.
- Bookings2 for the quarter amounted to $99.2 million, an increase of $10.7 million or 12.1% compared to the third quarter of last year.
- The decrease for the nine-month period was partially offset by a strong bookings2 quarter from the Company’s North American operations which recorded significant marine orders.
- Sales amounted to $95.2 million for the quarter, decreasing by $14.7 million or 13.4% compared to the same quarter last year.
- Gross profit for the quarter amounted to $29.0 million, a decrease of $6.9 million or 19.2% compared to the same quarter last year.