QUARTER 4 AND FULL YEAR 2021 FINANCIAL RESULTS
Posted: Mar 3,2022
GUELPH, Ontario, March 3, 2022 (GLOBE NEWSWIRE) -- 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 and full year of 2021.
“In 2021 we continued to see strong demand for our dry-type transformers in all key markets resulting in bookings growth of 37% through 2021. Our organic growth throughout 2021, but particularly in the fourth quarter, was driven primarily through our North American distributor network, which grew 27% during the year,” said Bill Hammond Chairman and CEO of Hammond. “Looking forward to 2022, we are seeing diversified industry demand from nearly every sector of the economy, but specifically from health care, construction, data centers, distribution centres, electronic vehicle charging, energy infrastructure, and natural resource development activity.”