Exhibit 99.1





Perma-Pipe International Holdings, Inc.


David Mansfield, President and CEO


Perma-Pipe Investor Relations

(847) 929-1200



Perma-Pipe International Holdings, Inc. Announces its Second Quarter and Year-to-Date Fiscal 2021 Financial Results



•        The Company generated net sales of $39.8 million for the second quarter

•        Net income was $3.4 million in the second quarter compared to $0.3 million in the same quarter of 2020

•        Backlog stood at $53.2 million on July 31, 2021 compared to $52.6 million on January 31, 2021


NILES, IL, September 8, 2021 - Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the second quarter ended July 31, 2021.


Second quarter revenues of $39.8 million represent a significant increase above the revenues of $20.4 million achieved in the same quarter last year. Similarly, pre-tax income from operations of $4.3 million is significantly greater than the $0.2 million earned in the same quarter of 2020.  If we exclude the impact of COVID-19 related government assistance, pre-tax income from operations improved $7.5 million over the same quarter of 2020 and $9.2 million for the year-to-date versus the same period last year," noted President and CEO David Mansfield.


"As I stated in our last Earnings Release, the adverse business conditions arising as a result of the pandemic began to ease during the latter part of the first quarter. This continued through the second quarter, and we were able to begin the execution of some delayed projects. Further confirming the commencement of a recovery from the previously depressed conditions, almost all business units showed quarter over quarter growth. Overall, revenues increased 63%, or $15.4 million, over those achieved in the first quarter, and pre-tax income increased by almost $5 million.


"Steps taken earlier this year to enhance liquidity included the sale and lease back of our property in Lebanon, Tennessee. This provided capital to allow us to continue to move forward with investment plans that we had delayed as an act of prudence over any risk to working capital available to us in the future. With the recent recovery in our earnings, we are now in a much more secure position in this regard and we will continue to move forward with our growth plans.


"Our backlog currently stands at $53.2 million, which reflects a small increase from the backlog at January 31, 2021. In addition to the growth in revenue during the quarter and year-to-date, new awards have also continued at higher levels, allowing us to maintain our backlog at a similar level to that at the beginning of the year.


"While we continue to be faced with dealing with the adverse impact of the pandemic, including the challenges it has presented within the supply chains, it is nevertheless encouraging to have more confidence that we are emerging from the worst of its impact on our business,” Mr. Mansfield concluded.



The following information was filed by Permapipe International Holdings, Inc. (PPIH) on Wednesday, September 8, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Permapipe International Holdings, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Permapipe International Holdings, Inc..


Never Miss A New SEC Filing Again

Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.


We Highlighted This SEC Filing For You

SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.


Widen Your SEC Filing Reading Experience

Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view


Uncover Actionable Information Inside SEC Filings

SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q


Adobe PDF, Microsoft Word and Excel Downloads

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis


FREE Financial Statements

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator

Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not


Financial Stability Report

Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity


Get a Better Picture of a Company's Performance

Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years


Log in with your credentials


Forgot your details?

Create Account