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Powell Industries Inc (POWL) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Powell Industries Inc

CIK: 80420 Ticker: POWL


Exhibit 99.1
powelllogoa13.jpgPRESS 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 2020 THIRD QUARTER RESULTS

HOUSTON — AUGUST 4, 2020 — 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 2020
third quarter ended June 30, 2020.
Revenues for the third quarter of fiscal 2020 were $118.1 million compared to revenues of $151.6 million for the second quarter of fiscal 2020 and revenues of $135.6 million for the third quarter of fiscal 2019. Net income for the third quarter of fiscal 2020 was $3.5 million, or $0.30 per diluted share, compared to net income of $7.4 million, or $0.64 per diluted share, for the second quarter of fiscal 2020 and net income of $5.1 million, or $0.44 per diluted share for the third quarter of fiscal 2019. During the fiscal third quarter, net income was reduced by $1.2 million, or $0.12 per share due to restructuring costs and was offset by $1.7 million, or a $0.14 per share gain resulting from tax benefits recognized. New orders placed during the third quarter of fiscal 2020 totaled $81 million compared to $145 million in the third quarter of fiscal 2019 and $301 million in the second quarter of fiscal 2020 which included the largest order in Company history. The Company’s backl

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The following information was filed by Powell Industries Inc (POWL) on Tuesday, August 4, 2020 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited)
Commitments And Contingencies
Commitments And Contingencies (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 Receivable (Details)
Detail Of Selected Balance Sheet Accounts - Activity In Product Warranty Accrual (Details)
Detail Of Selected Balance Sheet Accounts - Components Of Inventories (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of Calculation Of The Effective Tax Rate (Details)
Leases
Leases (Tables)
Leases - Lease Costs (Details)
Leases - Maturities Of Operating Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Summary Of Operating Lease Assets And Liabilities (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Components Of Long-Term Debt (Details)
Long-Term Debt - Narrative (Details)
Overview And Summary Of Significant Accounting Policies
Overview And Summary Of Significant Accounting Policies (Policies)
Overview And Summary Of Significant Accounting Policies - New Accounting Standard (Details)
Revenue
Revenue (Tables)
Revenue - Contract Balances (Details)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Narrative (Details)
Revenue - Performance Obligations (Details)
Separation Costs
Separation Costs (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)

Material Contracts, Statements, Certifications & more

Powell Industries Inc provided additional information to their SEC Filing as exhibits

Ticker: POWL
CIK: 80420
Form Type: 10-Q Quarterly Report
Accession Number: 0000080420-20-000027
Submitted to the SEC: Wed Aug 05 2020 2:17:19 PM EST
Accepted by the SEC: Wed Aug 05 2020
Period: Tuesday, June 30, 2020
Industry: Switchgear And Switchboard Apparatus

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