GUELPH, ONTARIO /Marketwired/ – Hammond Power Solutions Inc. invites members of the financial community to attend its
ANNUAL GENERAL MEETING OF SHAREHOLDERS
Wednesday, May 22, 2013
3:00 p.m. (Eastern Daylight time)
The Cutten Club a/o Cutten Fields
(The Cutten Room)
190 College Avenue East
Guelph, Ontario N1H 6L3
During the Annual General Meeting of Shareholders, Bill Hammond, Chief Executive Officer and Chairman of the Board and Chris Huether, Chief Financial Officer and Corporate Secretary will present an overview of the financial results and key highlights for the year ended December 31, 2012 as well as the first quarter of 2013. They will also discuss the company’s recent developments and business outlook.
Sales for the first quarter of 2013 were $63,672, a slight decline of $1,982 or 3.0% from the Quarter 1, 2012 sales of $65,654. As a result of softer booking and sales activity in the quarter, sales in the U.S., were $35,185 in Quarter 1, 2013 a small decrease of $1,317 or 3.6% from Quarter 1, 2012. Canadian sales were $21,272 for the quarter, a decrease over Quarter 1, and 2012 of $3,698 or 14.8%. The Company realized International sales of $7,215 versus $4,182 in Quarter 1, 2012, an increase of $3,033 or 72.5%. International sales include revenues from their recent Italian acquisition, Marnate Trasformatori s.r.l. (“Marnate”) of $1,068 for the quarter.
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