Global Power Equipment Group Inc. reported consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported generated revenue of $10.1 million, came out of the acquisitions that were added last year. Loss from continuing operations was $1.2 million. Operating loss was $1.9 million compared with operating profit of $2.8 million during the first quarter of 2012. Cash from operations in the first quarter was $8.5 million, up significantly from cash used in operations of $1.8 million in the first quarter of 2012. Collection of receivables following strong fourth quarter shipments was the primary driver. Capital expenditures were $800,000. The company maintaining original revenue guidance exclusive of the Hetsco acquisition at $485 million to $515 million for the year. Hetsco is expected to add approximately $15 million to $20 million in revenue in 2013. That is expected to reduce the downside risk for Services as continue to see challenging utility spend trends for elective maintenance projects. The company continues to expect more than half of 2013 revenue to come in the second half of the year, primarily due to the timing of shipments for large utility-scale gas turbine auxiliary products. The company adjusting consolidated gross margin expectations for 2013 to a range of 16.5% to 17.5% of revenues, down from prior guidance of 17% to 18% of revenues. Products gross margin percentage guidance is now approximately 20% to 22% of revenues due to lower first quarter gross margins. But it's still in line with the projects at this stage of the product cycle. The company anticipates capital expenditures between $6 million and $8 million, comprised of $3 million to $5 million for general maintenance and the balance for growth capex.

Global Power Equipment Group Inc. (NasdaqGS:GLPW) seeks acquisitions. "As we have said before, 2013 is a transition year in our transformation process. We are expanding products and services by investing in our commercial strategy and by making strategic acquisitions. We are leaning out processes and finding ways to be more efficient. And, we are establishing a strong beach head in the natural gas services space. We believe our efforts are advancing us toward our goal to double our revenue and operating profit margins in three to five years," Luis Manuel Ramírez, President and Chief Executive Officer of Global Power, said.

Global Power Equipment Group Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.09 per common share. The dividend will be payable on or about June 28, 2013 to stockholders of record at the close of business on June 14, 2013.