Since mid-2013, Patterson Pump has been engaged in a large infrastructure construction contract to supply approximately US$60 million of major pumps for the PCCP project. The company had expected that the majority of the related shipments would be primarily in the second half of 2014 and the first half of 2015.
Due to some related equipment delivery schedule changes and routine contract scheduling adjustments, the company currently expects that about US$10 million of the shipments expected in 2014 will be moved to 2015 and that the shipments in 2015 will be distributed throughout the year.
Gorman-Rupp says that the scheduling changes will result in a modest shift in the timing of the fulfillment of the related contract backlog.
The US$60 million contract has a remaining backlog of approximately US$53 million.
