Quarter 4, 2016 Financial Results
Posted: Mar 9,2017
Guelph, Ontario, March 9, 2017 – 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 Fourth Quarter of 2016.
Bill Hammond commented, “Our fourth quarter ending was indeed a disappointment, driven primarily by a very weak US economy. We believe that most of this malaise was caused by both the distraction and uncertainties surrounding the US presidential election. Evidence of this assumption is supported by the significant increase in activity and bookings that commenced in January of the New Year along with renewed confidence in prospects for 2017. We share this belief as we see a broad based recovery across many markets, including those that have been dormant for several years.”