Pioneer Power Solutions announces 3Q financial results
USA, New Jersey: Pioneer Power Solutions Inc., a manufacturer of power transformers, announced that third-quarter net income climbed 77% following a surge in sales of transformers and circuit protection equipment.
652db931b03434af33c6ed02458509c9
USA, New Jersey: Pioneer Power Solutions Inc., a manufacturer of power transformers, announced that third-quarter net income climbed 77% following a surge in sales of transformers and circuit protection equipment.
The company reported that net income increased to $1.7 million from $1 million. Revenue rose 16% to $26.1 million from $22.4 million in the same period last year. About $1 million in revenue came from higher sales of power transformers, reports North Jersey.
An order backlog of $27.6 million has also been reported. Company Chairman and Chief Executive Officer Nathan Mazurek said the order backlog is at a “historically high level.” The company predicts its 2014 revenue to be between $88 million and $92 million.
Source: North Jersey
#Pioneer Power Solutions Inc#Pioneer Power Solutions Inc financial results#Pioneer Power Solutions Inc power transformers#Pioneer Power Solutions Inc Q3 financial results#Pioneer Power Solutions Inc revenue#power transformers#power transformers