This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Global Power Equipment Group Inc. Announces Fourth Quarter And Fiscal 2010 Financial Results

TULSA, Okla., March 21, 2011 (GLOBE NEWSWIRE) -- Global Power Equipment Group Inc. (Nasdaq:GLPW) ("Global Power" or the "Company") today announced its audited financial results for the fourth quarter and year ended December 31, 2010. These results are available for review on the Company's website at .

For the three months ended December 31, 2010, the Company reported revenues of $121.9 million and net income of $4.2 million, or $0.26 per diluted share. Revenues for the year ended December 31, 2010 were $520.1 million and net income was $40.6 million, or $2.49 per diluted share.

"Our fourth quarter 2010 financial results were once again well above normal operating profit margins and helped us to post full year results that exceeded our expectations. However, it should be noted that our full year results were materially impacted by favorable non-recurring items and we have updated our directional guidance for 2011 to reflect our current view of market conditions and outlook," said David Keller, President and CEO of Global Power. "We are extremely pleased to have paid off our term loan balance in full during the fourth quarter and continue to see signals that support accelerating growth projections in 2012 and beyond."

The Company generated EBITDA (earnings before interest, taxes, depreciation, and amortization) from continuing operations of $13.0 million and $55.2 million for the three months and year ended December 31, 2010, respectively. EBITDA is a non-GAAP financial measure. A reconciliation of our income to EBITDA is included in the schedules attached to this press release.

In addition, the Company's backlog increased $3.8 million from September 30, 2010 to $349.3 million as of December 31, 2010. Backlog is not a measure defined by generally accepted accounting principles, and our methodology for determining backlog may vary from the methodology used by other companies in determining their backlog amounts. Backlog may not be indicative of future operating results and projects in our backlog may be cancelled, modified or otherwise altered by our customers.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs