Quarter 3, 2013 Financial Results
Posted: Oct 28,2013
Guelph, Ontario, October 23, 2013 – Hammond Power Solutions Inc. (“HPS”) (TSX: HPS.A) a leading manufacturer of dry-type and cast resin transformers and related magnetics, today announced its financial results for the third quarter of 2013.
Bill Hammond, Chairman & Chief Executive Officer of Hammond Power Solutions Inc. commented, “During a time of economic uncertainty, HPS continues to deliver respectable cash generation through prudent cost containment and margin retention. This is happening despite a significant slowdown in the North American mining and capital construction markets as well as sizeable investments to expand our business globally. We are confident that our financial strength, core competencies and long term strategies of market diversification will not only help us weather the current economic instability but also position HPS to accelerate our growth when the global recovery begins.”