Powell Industries Q4 Profit Falls; FY15 Outlook Weak

(RTTNews) - Powell Industries, Inc. (POWL) reported net income for the fourth quarter of $2.4 million or $0.20 per share, compare to $18.6 million or $1.54 per share for the year-ago quarter.

Income from continuing operations for the fourth quarter was $2.4 million or $0.20 per share, compared to income from continuing operations of $17.3 million, or $1.44 per share in the fourth quarter of last year. Excluding the special items, income from continuing operations for the fourth quarter of last year was $9.1 million or $0.75 per share.

Revenues for the fourth quarter fell to $162.85 million from $176.24 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.08 per share on revenue of $148.37 million for the fourth quarter.

Based on its backlog and current business conditions, Powell Industries currently expects full year fiscal 2015 revenues to range between $650 million and $710 million and full year fiscal 2015 earnings to range between $1.75 and $2.30 per share. Analysts currently expect the company to earn $2.46 per share on revenue of $738.80 million for the fiscal year 2015.