ORLANDO, Fla., May 9, 2014 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (Nasdaq:GENC) announced today net revenues for the quarter ended March 31, 2014 decreased 18.0% to $14.5 million from $17.7 million for the quarter ended March 31, 2013. Gross margin increased to 25.4% for the quarter ended March 31, 2014 from 24.4% for the quarter ended March 31, 2013. Selling, general and administrative expenses decreased $465,000 to $1,519,000 for the quarter ended March 31, 2014. The reduction was primarily due to $393,000 the Company collected on a receivable which had been fully reserved in prior years. Operating income for the quarter ended March 31, 2014 was $1.8 million compared to $1.9 million for the quarter ended March 31, 2013.
Gencor Releases Second Quarter Fiscal 2014 Results
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