power solutions internationa (PSIX) Key Developments
Power Solutions International, Inc. Presents at Emerging Uses of Natural Gas Investor Conference, May-19-2014
May 12 14
Power Solutions International, Inc. Presents at Emerging Uses of Natural Gas Investor Conference, May-19-2014 . Venue: Warwick Hotel in Manhattan, New York, New York, United States.
Power Solutions International Provides Earnings Guidance for the Year 2014
May 8 14
Power Solutions International provided earnings guidance for the year 2014. For the year 2014, the company offering an outlook for 2014 revenue of $310 million to $330 million, which represents growth of 30% to 38%. Naturally, with PPPI acquisition the company need to update the outlook to reflect their incremental revenue. The range of sales of at least $330 million to $360 million for 2014.
Power Solutions International, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014
May 8 14
Power Solutions International, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company’s net sales were $66,735,000, an increase of 27% from $52,576,000 in the first quarter of 2013 and a 9% sequential increase from $61,500,000 in the fourth quarter of 2013. Contributing to the sales increase was continued growth in the company's heavy-duty power generation systems, forklift and aftermarket sales. Operating income was $3,521,000, an increase of 14% from $3,080,000 in the first quarter of 2013. Net income which included the warrant revaluation adjustment and transaction costs, was $2,374,000, or $0.19 per diluted common share. This compares to a net loss of $2,927,000 or $0.32 per diluted common share for the first quarter of 2013, which also included a warrant revaluation adjustment. Net income adjusted to remove the warrant revaluation impact and transaction costs was $2,628,000, or $0.24 per diluted common share. This compares to adjusted net income for the first quarter of 2013 of $1,919,000 or $0.21 per diluted common share, which is also adjusted to remove the warrant revaluation impact. Income before income taxes was $3,632,000 compared to loss before income taxes of $1,960,000 a year ago. Net cash used in operating activities was $10,622,000 compared to $2,381,000 a year ago. Purchases of property, plant, equipment and other assets were $784,000 compared to $667,000 a year ago.
Power Solutions International Seeks Acquisitions
May 8 14
Power Solutions International, Inc. (NasdaqCM:PSIX) is looking for acquisitions. Gary Winemaster, Chairman, President and Chief Executive Officer of Power Solutions, said "We are always looking at acquisitions. I think our philosophy is that you should always be evaluating make versus buy or what you can acquire versus grow organically and so I think there are multiple opportunities that we are looking at. It's really more defined right now by what strategically fits in than something that can - it could grow our customer base or support our existing customer base. We somehow leverage and take their technology and leverage into what we are doing so I think everything we are looking at is very synergistically complementary. Obviously can't share any more on specific details but we are actively looking still."
Power Solutions International, Inc. Presents at Global Hunter Securities GHS 100 Energy Conference, Jun-24-2014 02:00 PM
May 6 14
Power Solutions International, Inc. Presents at Global Hunter Securities GHS 100 Energy Conference, Jun-24-2014 02:00 PM. Venue: JW Marriott Hotel, 151 W. Adams St, Chicago, Illinois, United States. Speakers: Daniel P. Gorey, Chief Financial Officer and Principal Accounting Officer, Eric A. Cohen, Chief Operating Officer.