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News Article | October 28, 2016
Site: www.marketwired.com

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 third quarter of 2016. Sales for the quarter-ended October 1, 2016 were $62,860, a decrease of $2,518 or 3.9% from Quarter 3, 2015 sales of $65,378. Year-to-date 2016 sales increased $6,821 or 3.5% and were $200,720 compared to $193,899 in 2015. Sales in the United States ("U.S.") decreased by $2,264 or 5.9%, finishing at $36,350 for Quarter 3, 2016 compared to $38,614 in Quarter 3, 2015. Year-to-date U.S. sales were $114,207 in 2016 and $115,046 in 2015, a slight decrease of $839 or 0.7%. Canadian sales were $19,177 for the quarter, a decrease of $498 or 2.5% from Quarter 3, 2015 sales of $19,675. Year-to-date Canadian sales were $59,598 in 2016 compared to $55,519 in 2015, an increase of $4,079 or 7.3%. International sales for Quarter 3, 2016 finished at $7,333 versus $7,089 in Quarter 3, 2015, an increase of $244 or 3.4%. Year-to-date international sales were $26,915 in 2016 compared to $23,334 in 2015, an increase of $3,581 or 15.3%. The Company increased bookings 1.3% over Quarter 3, 2015 and 4.2% over Quarter 2, 2016 due to a lift in project bookings in the direct channel in North America. Backlog increased 8.9% over Quarter 2, 2016 and 25.3% over Quarter 4, 2015. The quarter change was primarily due to significant project bookings in the United States. Gross margin rates for Quarter 3, 2016 were 22.7% compared to Quarter 3, 2015 margin rate of 23.8%, a decline of 1.1% of sales. Year-to-date, the gross margin rate was 23.8% in 2016 versus 23.4% in 2015, an improvement of 0.4%. The improvement in year-to-date margin rates can be attributed to a combination of pricing gains, cost reductions, product and customer mix, and geographic blend, as well as a moderate lift in manufacturing throughput due to the increased sales levels. Bill Hammond commented, "Despite these fluctuating times HPS sales have grown 3.5% this year while many companies in the electrical industry are experiencing significant declines. We have also been very successful at protecting our margin rates." Total selling and distribution expenses were $7,131 in Quarter 3, 2016 or 11.3% of sales versus $7,286 in Quarter 3, 2015 or 11.1% of sales, a decrease of $155 or 0.2% of sales. Year-to-date selling and distribution expenses were $22,669 or 11.3% of sales in 2016 compared to $21,108 or 10.9% in 2015, an increase of $1,561 or 0.4% of sales. General and administrative expenses for Quarter 3, 2016 totaled $6,145 or 9.8% of sales, compared to Quarter 3, 2015 expenses of $5,794 or 8.9% of sales, an increase of $351 and 0.9% of sales. Year-to-date general and administrative expenses were $18,839 or 9.4% of sales in 2016, compared to $17,661 or 9.1% of sales in 2015, an increase of $1,178 or 0.3% of sales. Quarter 3, 2016 earnings from operations were $1,003, a decrease of $1,472 or 59.5% from $2,475 for the same quarter last year. The year-to-date earnings from operations were $6,240 in 2016 compared to $6,544 in 2015, a decrease of $304 or 4.6%. Interest expense for Quarter 3, 2016 was $347, an increase of $51 or 17.2% compared to the Quarter 3, 2015 expense of $296. Year-to-date interest cost was $874, an increase of $198 or 29.3% when compared to the 2015 year-to-date expense of $676. Interest expense in 2016 was being generated as a result of higher operating debt levels due to joint venture investment and working capital requirements. The foreign exchange gain in Quarter 3, 2016 was $139 compared to a foreign exchange gain of $69 in Quarter 3, 2015. The year-to-date foreign exchange loss for 2016 was $201, compared to a loss of $117 for the same period last year. Net earnings for Quarter 3, 2016 finished at $99 compared to net earnings of $1,092 in Quarter 3, 2015, a decrease of $993 or 90.9%. This decline in the quarter earnings is a result of higher loss on investment in the joint venture, additional interest, decreased sales dollars and lower gross margin Year-to-date net earnings were $1,500 in 2016 compared to $2,969 in 2015, a decrease of $1,469 or 49.5%. Net cash provided by operating activities for Quarter 3, 2016 was $6,282 versus $6,077 in Quarter 3, 2015, an increase of $205. Year-to-date net cash used in operating activities was $2,039 compared to $6,958 cash generated by operating activities in 2015, a decrease of $8,997. The Company's overall operating debt balance net of cash was $22,735 in Quarter 3, 2016 compared to $14,727 in Quarter 3, 2015, an increase in debt position of $8,008 primarily reflecting funding of the joint venture, the purchase of an additional 15% equity ownership in PETE-Hammond and working capital requirements. The Company continued with its regular quarterly dividend program, paying six cents ($0.06) per Class A Subordinate Voting Share of HPS and six cents ($0.06) per Class B Common Share of HPS on September 30, 2016. Mr. Hammond concluded, "We are engaged in a number of projects to expand our bookings and sales over the next quarter, while constantly working on a range of cost reductions to help improve our margins in this very competitive environment. These are indeed volatile times where we must be mindful of both the opportunities and risks that are in front of us and remain ready to respond to unexpected changes in our environment." This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements that relate to among other things, HPS' strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" and words and expressions of similar import. Although HPS believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to currency rates); changes in laws and regulations; legal and regulatory proceedings; and the ability to execute strategic plans. HPS does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law. Hammond Power Solutions Inc. (TSX:HPS.A) is a North American leader for the design and manufacture of dry-type custom electrical engineered magnetics, electrical dry-type and cast resin transformers. Leading edge engineering capabilities, high quality products, and responsive service to customers' needs have all served to establish HPS as a technical and innovative leader in the electrical and electronic industries. HPS has operations in Canada, the United States, Mexico, India and Italy.


News Article | November 28, 2016
Site: www.marketwired.com

GUELPH, ONTARIO--(Marketwired - Nov. 28, 2016) - The Board of Directors of Hammond Power Solutions Inc. ("HPS") (TSX:HPS.A) declared a quarterly cash dividend of six cents ($0.06) per Class A Subordinate Voting Share of HPS and a quarterly cash dividend of six cents ($0.06) per Class B Common Share of HPS payable on December 16, 2016 to shareholders of record at the close of business on December 9, 2016. The ex-dividend date is December 7, 2016. HPS designates the entire amount of this taxable dividend to be an "eligible dividend" for purposes of the Income Tax Act (Canada), as amended from time to time. This notice meets the requirements of the Income Tax Act (Canada). Please contact your tax advisor if you have any questions with regard to the designation of the eligible dividend. This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements that relate to among other things, HPS's strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" and words and expressions of similar import. Although HPS believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to currency rates); changes in laws and regulations; legal and regulatory proceedings; and the ability to execute strategic plans. HPS does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law. Hammond Power Solutions Inc. (TSX:HPS.A) is a North American leader for the design and manufacture of dry-type custom electrical engineered magnetics, electrical dry-type and cast resin transformers. Leading edge engineering capabilities, high quality products, and responsive service to customers' needs have all served to establish HPS as a technical and innovative leader in the electrical and electronic industries. HPS has operations in Canada, the United States, Mexico, India and Italy.


Grow from $31.0 billion in 2015 to $33.4 billion in 2016 at a year-on-year growth rate of 7.7%. In addition, the market is expected to grow at a five-year CAGR of 8.0% from 2016 to 20121, to reach $49.1 billion by the end of the forecast period. Wiseguyreports.Com Adds “Electrical Transformer-Market Demand, Growth, Opportunities and analysis of Top Key Player Forecast to 2021” To Its Research Database Wiseguyreports Research projects that the global market for transformers will grow from $31.0 billion in 2015 to $33.4 billion in 2016 at a year-on-year growth rate of 7.7%. In addition, the market is expected to grow at a five-year CAGR of 8.0% from 2016 to 20121, to reach $49.1 billion by the end of the forecast period. The Major players in electrical transformer market are ABB Ltd. (Switzerland), Powell Industries Inc. (U.S.), Schneider Electric SE (France), Bharat Heavy Electricals Ltd. (India), Crompton Greaves Ltd. (India), Eaton Corp. (Ireland), Hyosung Corp. (South Korea), Mitsubishi Electric Corp.(Japan), GE Co. (U.S.) and OJSC Power Machines (Russia) among others. "Global Market for Electrical Transformer, 2021" discusses the following aspects of global electrical transformer market: Global Electrical Transformer market size, share & forecast Segmental analysis of Switchgear, by region, end user industry by type and components. Competitive vendor’s landscape and company SWOT analysis. Chapter: One Introduction Chapter: Two Summary Chapter: Three Overview Major Types Of Transformers Major Applications Of Transformers Chapter: Four Global Transformers Market Forecast Global Transformers Market By Type (Value & Units) Distribution Transformer Power Transformer Traction Transformer Global Transformers Market By Region (Value & Units) North America Asia Pacific Europe South America Row Global Distribution Transformer Market By Power Rating (Value & Units) 100 Kva 100.1 To 500 Kva 500.1 To 1,000 Kva 1,000.1 To 30,000 Kva Global Power Transformer Market By Power Rating (Value & Units) 5.1 To 100 Mva 100.1 To 500 Mva 501 To 800 Mva 801 To 1,200 Mva Chapter: Five Key Drivers For Electrical Switchgears Market Renewal And Upgradation Of Existing Networks Rising Electricity Demand Chapter: Six Suppliers Landscape And Company Profiles Api Delevan Inc. Asea Brown Boveri (Abb) Bharat Heavy Electricals Ltd. Bi Technologies Corp. Caddell-Burns Manufacturing Co. Crompton Greaves Ltd. Datatronic Distribution Inc. Efacec Group Excel Electronics Industries First Philippine Electric Corp. Ge Co. Gridsense Hammond Power Solutions Inc. Hyosung Power & Industrial Systems Performance Group Hyundai Heavy Industries Co. Ltd. Kirloskar Mitsubishi Electric Corp. Morgan Schaffer Muskaan Power Infrastructure New Korea Electric Nissin Electric Co. Ltd. Osram Licht Ag Pulse Electronics Corp. R. E. Uptegraff Manufacturing Company Rts Power Corporation Ltd. S. P. Electric Industry Co. Schneider Electric Sa Siemens Energy Taiyo Yuden Co., Ltd. Tanelec Ltd. Toshiba Corp. Voltran Ltd. Waukesha Electric Systems Inc. Winder Electrical Ltd. For more information, please visit https://www.wiseguyreports.com/sample-request/464918-global-electrical-transformer-market-2016-2021-electrical-transformer-market-2016-2021


Wiseguyreports.Com Adds “Electrical Transformer-Market Demand, Growth, Opportunities and analysis of Top Key Player Forecast to 2021” To Its Research Database Wiseguyreports Research projects that the global market for transformers will grow from $31.0 billion in 2015 to $33.4 billion in 2016 at a year-on-year growth rate of 7.7%. In addition, the market is expected to grow at a five-year CAGR of 8.0% from 2016 to 20121, to reach $49.1 billion by the end of the forecast period. ABB Ltd. (Switzerland), Powell Industries Inc. (U.S.), Schneider Electric SE (France), Bharat Heavy Electricals Ltd. (India), Crompton Greaves Ltd. (India), Eaton Corp. (Ireland), Hyosung Corp. (South Korea), Mitsubishi Electric Corp.(Japan), GE Co. (U.S.) and OJSC Power Machines (Russia) among others. "Global Market for Electrical Transformer, 2021" discusses the following aspects of global electrical transformer market: Global Electrical Transformer market size, share & forecast  Segmental analysis of Switchgear, by region, end user industry by type and components.  Competitive vendor’s landscape and company SWOT analysis. Chapter: One  Introduction  Chapter: Two  Summary  Chapter: Three  Overview  Major Types Of Transformers Major Applications Of Transformers  Chapter: Four  Global Transformers Market Forecast Global Transformers Market By Type (Value & Units) Distribution Transformer Power Transformer  Traction Transformer  Global Transformers Market By Region (Value & Units)  North America Asia Pacific Europe  South America Row  Global Distribution Transformer Market By Power Rating (Value & Units)  100 Kva  100.1 To 500 Kva  500.1 To 1,000 Kva 1,000.1 To 30,000 Kva  Global Power Transformer Market By Power Rating (Value & Units)      5.1 To 100 Mva  100.1 To 500 Mva 501 To 800 Mva 801 To 1,200 Mva  Chapter: Five  Key Drivers For Electrical Switchgears Market  Renewal And Upgradation Of Existing Networks Rising Electricity Demand  Chapter: Six  Suppliers Landscape And Company Profiles  Api Delevan Inc.  Asea Brown Boveri (Abb)  Bharat Heavy Electricals Ltd.  Bi Technologies Corp.  Caddell-Burns Manufacturing Co.  Crompton Greaves Ltd.  Datatronic Distribution Inc.  Efacec Group  Excel Electronics Industries First Philippine Electric Corp.  Ge Co.  Gridsense  Hammond Power Solutions Inc.  Hyosung Power & Industrial Systems Performance Group Hyundai Heavy Industries Co. Ltd.  Kirloskar  Mitsubishi Electric Corp.  Morgan Schaffer Muskaan Power Infrastructure New Korea Electric Nissin Electric Co. Ltd.  Osram Licht Ag Pulse Electronics Corp.  R. E. Uptegraff Manufacturing Company Rts Power Corporation Ltd.  S. P. Electric Industry Co.  Schneider Electric Sa Siemens Energy  Taiyo Yuden Co., Ltd.  Tanelec Ltd.  Toshiba Corp.  Voltran Ltd.  Waukesha Electric Systems Inc.  Winder Electrical Ltd.


Patent
Hammond Power Solutions Inc. | Date: 2013-11-01

A transformer includes a core of magnetic permeable material around which both a primary coil and a secondary coil extend. A sheets of electrical insulation are located between the layers of windings of the primary and secondary coils, between the primary and secondary coils, and between the core and the coils. The sheet is formed of material that is non-conductive to electricity, and has a first major surface and a second major surface opposing each other. A first plurality of ribs projects outward from the first major surface. Optionally a second plurality of ribs projects outward from the second major surface of the sheet. The force exerted on to the inter-layer or inter-winding electrical insulation sheets during the winding process are absorbed by deformation of one or more of the ribs thereby inhibiting that force from adversely affecting the electrical insulating property of the sheet.


Patent
Hammond Power Solutions Inc. | Date: 2013-10-21

A transformer comprises a core of magnetic permeable material. A first coil assembly extends around the core and includes a first coil of wire encased in a first body of electrical insulating material. The first body is annular with a first inner surface and a first outer surface with a first plurality of fins projecting from the first inner surface. A second coil assembly extends around the first coil assembly and includes a second coil encased in a second body of electrical insulating material. The second body is annular with a second inner surface and a second outer surface with a second plurality of fins projecting from the second outer surface. A third plurality of fins projects from either the first outer surface of the first body or the second inner surface of the second body.


Patent
Hammond Power Solutions Inc. | Date: 2013-10-21

A transformer has a core of magnetic permeable material. A first coil assembly extends around the core and includes an electrical conductive first coil embedded in a first body of electrically insulating material. A second coil assembly extends around the first coil assembly and includes an electrical conductive second coil embedded in a second body of electrically insulating material. A first shield of electrically conductive, non-magnetic material is between the first and second coil assemblies and is embedded in either the first body or the second body. Optionally a second shield of electrically conductive, magnetic material is embedded in the second body and extends around and outside the second coil.


Trademark
Hammond Power Solutions Inc. | Date: 2015-10-13

Electrical reactors; Electrical transformers.


Trademark
Hammond Power Solutions Inc. | Date: 2015-07-23

Electric transformers; Electrical reactors.


Trademark
Hammond Power Solutions Inc. | Date: 2015-07-23

Electric transformers; Electrical reactors.

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