Rermag 5517 Gorman Rupp Pumpsblue Copy 1
Rermag 5517 Gorman Rupp Pumpsblue Copy 1
Rermag 5517 Gorman Rupp Pumpsblue Copy 1
Rermag 5517 Gorman Rupp Pumpsblue Copy 1
Rermag 5517 Gorman Rupp Pumpsblue Copy 1

Gorman Rupp Posts Second Highest Revenues in Company’s History in 2015

Feb. 7, 2016
Pump manufacturer Gorman Rupp posted $98.8 million in net sales during the fourth quarter compared to a record $105 million during the fourth quarter of 2014, a 5.9-percent decrease.

Pump manufacturer Gorman Rupp posted $98.8 million in net sales during the fourth quarter compared to a record $105 million during the fourth quarter of 2014, a 5.9-percent decrease. Domestic sales declined 10.6 percent or $7.4 million while international sales increased 3.7 percent or $1.2 million. Sales in water end markets slid 4.4 percent or $3.3 million and sales in non-water end markets dropped 9.4 percent or $2.9 million during the quarter.

     Sales in the construction market declined $3.5 million because of the severe decline globally in oil and gas drilling and $1.3 million in the agricultural market because of unseasonably wet weather conditions in most locations domestically.

    Net sales for the year were $406.2 million, the second highest in the company’s history, compared to a record $434.9 million in 2014, a decrease of 6.6 percent, primarily because of lower domestic sales. Of the total decrease in net sales during the year, $8 million or $27.9 percent were the result of unfavorable currency translation.

     “Although revenue decreased throughout the year, the company modestly exceeded reduced expectations in spite of domestic and global uncertainties, including extensive currency translation impacts,” said Jeffrey Gorman, president and CEO.