Generac Holdings Inc Raises FY 2012 Guidance

Generac Holdings Inc revised upward its guidance for the remainder of fiscal 2012 due to increased demand for home standby and portable generators in the fourth quarter as a result of major power outage activity that is currently taking place. For fiscal 2012, it now expects total net sales to increase in the low-40% range over the prior year, which represents an increase from the low-30% range previously provided. As a result of the higher sales outlook, adjusted EBITDA for fiscal 2012 is now expected to increase in the mid-40% range over the prior year, which is an increase from the mid-30% growth rate previously expected. Diluted net income per common share for fiscal 2012 is now expected to be in the range of $1.21 to $1.27 as compared to the $1.02 to $1.08 range previously expected and adjusted diluted net income per common share is now expected to be $2.95 to $3.00 relative to the previous expectation of $2.65 to $2.70.