HPS Announces Q3 2011 Financial Results
Posted: Oct 26,2011
Guelph, Ontario – Hammond Power Solutions Inc. (“HPS”) (TSX: HPS.A) a leading manufacturer of dry type transformers and magnetics, today announced its financial results for the third quarter of 2011.
“I am pleased to report that from an operational perspective HPS delivered a positive rebound in both sales volumes and earnings from operations compared to the same quarter last year. Sales were up 16% while earnings from operations were up 28% in relation to Quarter 3, 2010. This came during a time of unprecedented economic volatility and uncertainty.” commented Bill Hammond, Chairman & Chief Executive Officer of Hammond Power Solutions Inc.
- Revenue growth of $7,586 or 16%
- Earnings from operations increase of $575 or 28%
- Order bookings increase of 45%
- Order backlog increase of 39%
- Extreme copper price volatility