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Stock Market & Financial Investment News

News Breaks
August 5, 2014
16:56 EDTPOWLPowell reports Q3 EPS 24c, may not compare to consensus 88c
Reports Q3 revenue $150.8M, may not compare to consensus $191.16M. The company's third quarter revenue decline was due to schedule changes on several projects, resulting in some work moving into subsequent quarters. Gross margins and income from continuing operations declined due to both lower revenues and higher operating costs from inefficiencies of an accelerated production ramp at its manufacturing facility in Canada. Michael A. Lucas, President and CEO, stated, "Our third quarter results did not meet our expectations. Demand for our products and solutions in the Canadian market has been greater than anticipated. This increased demand placed additional pressures on our production ramp plan, resulting in inefficiencies, extended lead times and higher operating costs. We have taken constructive actions to resolve these issues and are focused on improving efficiencies, maximizing output and meeting our customer commitments." The company's backlog for continuing operations as of June 30 was $477M compared to $452M as of March 31, and compared to $417M at the end of last year's third quarter.
News For POWL From The Last 14 Days
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December 18, 2014
06:03 EDTPOWLPowell announces $25M share repurchase program
Powell Industries announced that its board has authorized the repurchase of up to $25M in shares of the company's common stock. The share repurchase program will expire on December 31, 2015.

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