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Powell Industries Inc (POWL) SEC Filing 10-K Annual report for the fiscal year ending Monday, September 30, 2019

Powell Industries Inc

CIK: 80420 Ticker: POWL

Exhibit 99.1

 

LOGO    PRESS RELEASE

 

FOR IMMEDIATE RELEASE      
   Contacts:               

Michael W. Metcalf, CFO

Powell Industries, Inc.

713-947-4422

     

Ken Dennard /Natalie Hairston

Dennard Lascar Investor Relations

POWL@dennardlascar.com

713-529-6600

POWELL INDUSTRIES ANNOUNCES

FISCAL 2019 FOURTH QUARTER RESULTS

Fiscal Year 2019 New Orders Up 47% Versus Prior Year

HOUSTON — DECEMBER 4, 2019 — Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom engineered solutions for the management, control and distribution of electrical energy, today announced results for the fiscal 2019 fourth quarter ended September 30, 2019.

Revenues for the fourth quarter of fiscal 2019 were $148.5 million compared to revenues of $134.9 million for the fourth quarter of fiscal 2018. The Company reported net income for the fourth quarter of 2019 of $6.5 million, or $0.56 per diluted share, compared to net income of $1.5 million, or $0.13 per diluted share, for the fourth quarter of fiscal 2018.

New orders placed during the fourth quarter of fiscal 2019 totaled $162 million compared to $145 million in the third quarter of fiscal 2019 and compared to $78 million in the fourth quarter of fiscal 2018. The Company’s backlog as of September 30, 2019 was $419 million, up 3% sequentially from $407 million as of June 30, 2019 and compared to $261 million at the end of last year’s fourth quarter.


The following information was filed by Powell Industries Inc (POWL) on Wednesday, December 4, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Powell Industries Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Business And Organization
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Schedule Of Future Minimum Annual Rental Commitments Under Leases (Details)
Commitments And Contingencies - Schedule Of Rental Expense And Sublease Income (Details)
Detail Of Selected Balance Sheet Accounts
Detail Of Selected Balance Sheet Accounts (Tables)
Detail Of Selected Balance Sheet Accounts - Activity In Allowance For Doubtful Accounts (Details)
Detail Of Selected Balance Sheet Accounts - Activity In Warranty Accrual (Details)
Detail Of Selected Balance Sheet Accounts - Components Of Inventories (Details)
Detail Of Selected Balance Sheet Accounts - Narrative (Details)
Detail Of Selected Balance Sheet Accounts - Schedule Of Property, Plant And Equipment (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Geographic Information
Geographic Information (Tables)
Geographic Information - Schedule Of Long-Lived Assets By Geographical Areas (Details)
Geographic Information - Schedule Of Revenues From External Customers By Geographical Areas (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Narrative (Details)
Goodwill And Intangible Assets - Schedule Of Estimated Amortization Expense (Details)
Goodwill And Intangible Assets - Schedule Of Intangible Assets Subject To Amortization (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Of Unrecognized Tax Benefits (Details)
Income Taxes - Schedule Of Components Of Deferred Income Tax Assets (Details)
Income Taxes - Schedule Of Components Of Income Tax Provision (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Effective Income Tax Rate Reconciliation (Details)
Income Taxes - Schedule Of Income Before Income Taxes (Details)
Income Taxes - Schedule Of Valuation Allowance (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Components Of Long-Term Debt (Details)
Long-Term Debt - Narrative (Details)
Long-Term Debt - Schedule Of Maturities Of Long-Term Debt (Details)
Quarterly Information
Quarterly Information (Details)
Quarterly Information (Tables)
Revenue
Revenue (Tables)
Revenue - Contract Balances (Details)
Revenue - Contract Estimates (Details)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Performance Obligations (Details)
Revenue - Revenue Recognition (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Schedule Of Restricted Stock Units Activity (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - New Accouting Standards (Details)
Summary Of Significant Accounting Policies - Supplemental Disclosures Of Cash Flow Information (Details)
Ticker: POWL
CIK: 80420
Form Type: 10-K Annual Report
Accession Number: 0000080420-19-000039
Submitted to the SEC: Thu Dec 05 2019 9:35:26 AM EST
Accepted by the SEC: Thu Dec 05 2019
Period: Monday, September 30, 2019
Industry: Switchgear And Switchboard Apparatus

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