Pioneer Power Solutions, Inc. (OTCBB: PPSI) ("Pioneer" or the "Company"), a manufacturer of specialty electrical equipment for the utility, industrial, commercial and wind energy markets, announced its results for the quarter and six months ended June 30, 2011.
This is our first article on residential wind generators. In the coming months we will document the number of agricultural structures in one rural county of Illinois that could be utilized for residential wind generators.Including non-recurring charges and income, net earnings for three and six month periods ended June 30, 2011 were $226,000 and $1,189,000, respectively, down from $1,373,000 and $1,763,000 reported in the comparable prior year periods. Earnings per basic and diluted share were $0.04 and $0.20 for the three and six month periods ended June 30, 2011, respectively, as compared to $0.23 and $0.30 per basic and diluted share during the same periods of 2010.If you want to build a home wind power generator, there are also options to choose from.You can't generate a lot of power with a five hundred-dollar investment, but it's a good starting point. The more people participating with residential wind generators, the faster the technology will advance and the greater the impact will be.Al Gore used the Global Warming tipping point as a tool to educate and motivate the world to take action on carbon emissions. His strategy was effective to a point, but much controversy remains about Global Warming with many skeptics.Pioneer Power Solutions, Inc. is a manufacturer of specialty electrical equipment through its four operating subsidiaries which include: Pioneer Transformers Ltd., Jefferson Electric, Inc., Bemag Transformer Inc. and Pioneer Wind Energy Systems Inc. Pioneer provides a range of highly-engineered solutions for applications in the utility, industrial, commercial and wind energy market segments of the electrical transmission and distribution industry. Pioneer is headquartered in Fort Lee, New Jersey and presently operates from six locations in the U.S., Canada and Mexico for manufacturing, centralized distribution, engineering, sales and administration. To learn more about Pioneer, please visit our website at www.pioneerpowersolutions.com .Nathan Mazurek, Pioneer's Chairman and Chief Executive Officer, said, "Pioneer has achieved significant growth across our transformer businesses so far during 2011. Pioneer Transformers and Jefferson Electric each delivered over 20% organic growth this quarter, or 23% overall compared to the first six months of last year."Gross Margins5. They cost millions to build and in most cases are Power Company owned.Homemade Wind Power Generator: The CostHomemade Wind Power Generator: Extra Cash For The FamilyResults for Quarter and Six Months Ended June 30, 2011Revenue1. They can be installed and producing power in a day, not years.For the three months ended June 30, 2011, revenues increased 32.9% to $16.4 million, up from $12.3 million during the three months ended June 30, 2010. For the six months ended June 30, 2011, revenues increased $11.5 million, or 56.0%, to $32.1 million as compared to $20.6 million during the six months ended June 30, 2010. These increases in our revenue were due primarily to the inclusion of four additional months of Jefferson Electric revenue during 2011, combined with core, year-over-year growth exceeding 20% in each of our transformer businesses. Pioneer Wind Energy Systems Inc., which was established in June 2010, made no contribution to our total revenue during either six month period.3. They require new grid infrastructure for power distribution.Not like a few decades ago when renewable energy first came out, the technology was regarded way too progressive and costly. Now, it's become effortlessly accessible and cheap. It's considerably possible to build your own system just by spending $200. This could be completed by employing resources that has the ability to be effortlessly discovered in regional hardware stores.Everybody in the world is now more concerned with the Earth as opposed a few decades ago. It's become the duties of every individual. to do his part in assisting the natural world and what greater way to help than by owning a homemade wind power generator.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company's ability to expand its business through strategic acquisitions, (ii) the Company's ability to integrate acquisitions and related businesses, (iii) the fact that many of the Company's competitors are better established and have significantly greater resources, and may subsidize their competitive offerings with other products and services, which may make it difficult for the Company to attract and retain customers, (iv) the Company's dependence on Hydro-Quebec Utility Company and Siemens Industry, Inc. for a large portion of its business, and the fact that any change in the level of orders from Hydro-Quebec Utility Company or Siemens Industry, Inc. could have a significant impact on the Company's results of operations, (v) the potential loss or departure of key personnel, including Nathan J. Mazurek, the Company's Chairman, President and Chief Executive Officer, (vi) the fact that fluctuations between the U.S. dollar and the Canadian dollar will impact the Company's revenues, (vii) the Company's ability to generate internal growth, (viii) market acceptance of existing and new products, (ix) operating margin risk due to competitive pricing and operating efficiencies, supply chain risk, material, labor or overhead cost increases, interest rate risk and commodity risk, (x) restrictive loan covenants or the Company's ability to repay or refinance debt under its credit facilities that could limit the Company's future financing options and liquidity position and may limit the Company's ability to grow its business, (xi) the Company's ability to develop and grow its wind energy business, (xii) general economic and market conditions in the electrical equipment, power generation, commercial construction, industrial production, oil and gas, marine and infrastructure industries, (xiii) the impact of geopolitical activity on the economy, changes in government regulations such as income taxes, climate control initiatives, the timing or strength of an economic recovery in the Company's markets and the Company's ability to access capital markets, (xiv) the fact that unanticipated increases in raw material prices or disruptions in supply could increase production costs and adversely affect the Company's profitability, (xv) the fact that the Company's Chairman controls a majority of the Company's combined voting power, and may have, or may develop in the future, interests that may diverge from yours and (xvi) the fact that future sales of large blocks of the Company's common stock may adversely impact the Company's stock price. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission, including the Company's Form 10-K filed with the SEC on March 31, 2011. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov . The Company assumed no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
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