Key Developments: Powell Industries Inc (POWL.OQ)

POWL.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Powell Industries Inc Lowers FY 2013 Revenue Guidance; Raises FY 2013 EPS Guidance
Tuesday, 7 May 2013 04:15pm EDT 

Powell Industries Inc announced that it expects fiscal 2013 revenues to range between $675 million and $700 million and fiscal 2013 earnings to range between $2.30 and $2.55 per diluted share (EPS). Included in the Company's earnings outlook is an estimate of $0.25 per diluted share for one-time costs related to the start-up of two new manufacturing facilities. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $714 million for fiscal 2013.  Full Article

Powell Industries Inc Raises Low End Of Prior FY 2013 Guidance To A Range In Line With Analysts' Estimates
Tuesday, 5 Feb 2013 04:15pm EST 

Powell Industries Inc announced that it has raised the low end of its previous outlook for both revenue and earnings and now expects fiscal 2013 revenues to range between $700 million and $725 million and fiscal 2013 earnings to range between $2.25 and $2.50 per diluted share (EPS). Included in the Company's earnings outlook is an estimate of $0.25 per diluted share for one-time costs related to the start-up of two new manufacturing facilities. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $715 million and EPS of $2.50 for fiscal 2013.  Full Article

Powell Industries Inc Issues FY 2013 Guidance Below Analysts' Estimates
Tuesday, 4 Dec 2012 04:15pm EST 

Powell Industries Inc announced that for fiscal 2013, it expects revenues to range between $675 million and $725 million and earnings to range between $2.00 and $2.50 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $777 million and EPS of $2.61 for fiscal 2013.  Full Article

Powell Industries, Inc. Names New President And Chief Executive Officer
Tuesday, 7 Aug 2012 04:18pm EDT 

Powell Industries, Inc. announced that its Board of Directors has named Michael A. Lucas President and Chief Executive Officer (CEO) of the Company, effective August 20, 2012. Thomas Powell has served as Chief Executive Officer and President of Powell on an interim basis since September 2011. Mr. Powell, who has served as the Company's Chairman of the Board since 1984, will relinquish the role of President and CEO and again serve as non-executive Chairman of the Board, effective August 20, 2012.  Full Article

Powell Industries, Inc. Raises FY 2012 Guidance
Tuesday, 7 Aug 2012 04:15pm EDT 

Powell Industries, Inc. announced that based on its backlog and current business conditions, Powell Industries now expects fiscal 2012 revenues to range between $700 million and $725 million and fiscal 2012 earnings to range between $1.95 and $2.20 per diluted share (EPS).  Full Article

Powell Industries, Inc. Raises FY 2012 Guidance
Tuesday, 8 May 2012 04:30pm EDT 

Powell Industries, Inc. announced that for fiscal 2012, revenues to range between $675 million and $725 million and earnings to range between $1.25 and $1.50 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $655 million and EPS of $1.05 for fiscal 2012.  Full Article

Powell Industries, Inc. Reaffirms FY 2012 Revenue Guidance; Lowers FY 2012 EPS Guidance
Tuesday, 7 Feb 2012 04:15pm EST 

Powell Industries, Inc. announced that it expects fiscal 2012 revenues to range between $625 million and $675 million and earnings to range between $1.00 and $1.25 per diluted share. The earnings outlook does not include an estimate of recoverable costs as there is no assurance these costs can be recovered. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $655 million and EPS of $1.36 for fiscal 2012.  Full Article

Robbins Umeda LLP Announces Investigation Of Powell Industries, Inc.
Tuesday, 20 Dec 2011 02:10pm EST 

Shareholder rights firm Robbins Umeda LLP announced that it is investigating possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Powell Industries, Inc. Robbins Umeda LLP's investigation focuses on whether officials at Powell Industries breached their fiduciary duties to shareholders, maintained woefully inadequate controls, and wasted corporate assets to the detriment of the Company and investors. In particular, the firm is investigating allegations that deficient internal controls at Powell Industries caused the Company to issue financial statements that contained serious accounting improprieties. On November 8, 2011, Powell Industries disclosed that previously issued financial statements for the second and third quarters of fiscal year 2011 contained certain accounting errors and therefore should no longer be relied upon. Moreover, the Company disclosed that these errors occurred at Powell Canada and were related to an inaccurate recording of customer change orders, an erroneous journal entry recorded in accounts payable, incorrect close out of costs on certain jobs and the application of an incorrect manufacturing overhead rate.  Full Article

Powell Industries, Inc. Issues FY 2012 Guidance In Line With Analysts' Estimates
Tuesday, 6 Dec 2011 04:15pm EST 

Powell Industries, Inc. announced that for fiscal 2012, it expects revenues to range between $625 million and $675 million and earnings to range between $1.25 and $1.50 per diluted share (EPS). According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $667 million and EPS of $1.41 for fiscal 2012.  Full Article

Levi & Korsinsky, LLP Announces Investigation Of Powell Industries, Inc.
Wednesday, 16 Nov 2011 03:52pm EST 

Levi & Korsinsky, LLP announced that it is investigating potential claims on behalf of purchasers of the securities of Powell Industries, Inc. concerning possible violations of federal securities laws. The investigation stems from allegations that certain statements issued by the Company between May 3, 2001 and November 8, 2011 were false and misleading. On November 8, 2011, the Company issued a press release announcing that its financial statements for the second and third quarters of fiscal 2011 contained certain accounting errors originating from its Canadian operations, and should not longer be relied upon.  Full Article

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