Quarter 1, 2021 Financial Results
Posted: Apr 22,2021
Guelph, Ontario, April 22, 2021 – Hammond Power Solutions Inc. (“HPS”) (TSX: HPS.A) a leading manufacturer of dry-type, cast resin, liquid-filled transformers and related magnetics, today announced its financial results for the First Quarter of 2021.
“The first quarter highlighted the strength of our distributor network and its ability to provide a diversified revenue base and now contributes more than 60% of Hammond’s revenue. This added sector diversification was the primary driver of our gross margin and bookings increase for the quarter compared to 2020,” said Chris Huether, Chief Financial Officer of Hammond Power Solutions.