Powell Industries reports net income for Q4, provides outlook for 2013

Powell Industries Inc. has reported net income of $11.85 million, or $0.99 per diluted share, for the fourth quarter ended September 30, 2012, compared to net loss of $6.95 million, or $0.59 loss per diluted share, for the fourth quarter ended September 30, 2011. The company expects full year fiscal 2013 revenues to range between $675 million and $725 million and earnings to range between $2.00 and $2.50 per diluted share.

Revenues for the fourth quarter ended September 30, 2012 were $184.16 million, compared to $171.24 million for the fourth quarter ended September 30, 2011.

Net income for the year ended September 30, 2012 was $29.66 million, or $2.49 per diluted share, compared to net loss of $2.71 million, or $0.23 loss per diluted share, for the year ended September 30, 2011.

Revenues for the year ended September 30, 2012 were $717.19 million, compared to $562.40 million for the year ended September 30, 2011.

Michael Lucas, president and CEO, stated, "We are pleased with our fiscal 2012 record revenues and our year over year earnings improvement. We appreciate the solid performance from our team throughout the entire organization for this excellent outcome. While we enter the new fiscal year with a healthy backlog, we are watchful as to the impact that global economic pressures could have on the business climate."