(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification Number) |
(Address of principal executive offices) | (Zip Code) |
Written communications pursuant to Rule 425 under the Securities Act (17CFR230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR240.13e-4(c)) |
Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
|
Exhibit Number | Description | ||||
99.1 |
POWELL INDUSTRIES, INC. | ||||||||||||||||||||
Date: December 5, 2022 | ||||||||||||||||||||
By: | /s/ Michael W. Metcalf | |||||||||||||||||||
Michael W. Metcalf | ||||||||||||||||||||
Executive Vice President | ||||||||||||||||||||
Chief Financial Officer | ||||||||||||||||||||
(Principal Financial Officer) |
Three Months Ended September 30, | Year Ended September 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
(In thousands, except per share data) | |||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||
Revenues | $ | 162,676 | $ | 129,455 | $ | 532,582 | $ | 470,559 | |||||||||||||||
Cost of goods sold | 129,236 | 106,983 | 447,564 | 395,496 | |||||||||||||||||||
Gross profit | 33,440 | 22,472 | 85,018 | 75,063 | |||||||||||||||||||
Selling, general and administrative expenses | 21,458 | 16,958 | 70,831 | 67,217 | |||||||||||||||||||
Research and development expenses | 1,620 | 1,624 | 6,963 | 6,670 | |||||||||||||||||||
Amortization of intangible assets | — | 25 | — | 157 | |||||||||||||||||||
Operating income | 10,362 | 3,865 | 7,224 | 1,019 | |||||||||||||||||||
Other income | — | — | (2,285) | — | |||||||||||||||||||
Interest (income) expense | (255) | 5 | (334) | (73) | |||||||||||||||||||
Income before income taxes | 10,617 | 3,860 | 9,843 | 1,092 | |||||||||||||||||||
Income tax provision (benefit) | 1,878 | 599 | (3,894) | 461 | |||||||||||||||||||
Net income | $ | 8,739 | $ | 3,261 | $ | 13,737 | $ | 631 | |||||||||||||||
Earnings per share: | |||||||||||||||||||||||
Basic | $ | 0.74 | $ | 0.28 | $ | 1.16 | $ | 0.05 | |||||||||||||||
Diluted | $ | 0.73 | $ | 0.28 | $ | 1.15 | $ | 0.05 | |||||||||||||||
Weighted average shares: | |||||||||||||||||||||||
Basic | 11,811 | 11,720 | 11,797 | 11,705 | |||||||||||||||||||
Diluted | 11,969 | 11,818 | 11,943 | 11,789 | |||||||||||||||||||
SELECTED FINANCIAL DATA: | |||||||||||||||||||||||
Depreciation and Amortization | $ | 2,152 | $ | 2,436 | $ | 9,358 | $ | 10,335 | |||||||||||||||
Capital Expenditures | $ | 686 | $ | 451 | $ | 2,451 | $ | 2,931 | |||||||||||||||
Dividends Paid | $ | 3,063 | $ | 3,040 | $ | 12,233 | $ | 12,142 |
September 30, 2022 | September 30, 2021 | ||||||||||
(In thousands) | |||||||||||
Assets: | |||||||||||
Cash, cash equivalents and short-term investments | $ | 116,508 | $ | 133,981 | |||||||
Other current assets | 253,475 | 168,480 | |||||||||
Property, plant and equipment, net | 98,628 | 109,457 | |||||||||
Long-term assets | 24,769 | 24,274 | |||||||||
Total assets | $ | 493,380 | $ | 436,192 | |||||||
Liabilities and equity: | |||||||||||
Current liabilities | $ | 186,373 | $ | 121,156 | |||||||
Deferred and other long-term liabilities | 9,801 | 13,813 | |||||||||
Stockholders’ equity | 297,206 | 301,223 | |||||||||
Total liabilities and stockholders’ equity | $ | 493,380 | $ | 436,192 | |||||||
SELECTED FINANCIAL DATA: | |||||||||||
Working capital | $ | 183,610 | $ | 181,305 | |||||||
Cover |
Dec. 05, 2022 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | Dec. 05, 2022 |
Entity Registrant Name | POWELL INDUSTRIES, INC. |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 001-12488 |
Entity Tax Identification Number | 88-0106100 |
Entity Address, Address Line One | 8550 Mosley Road |
Entity Address, City or Town | Houston |
Entity Address, State or Province | TX |
Entity Address, Postal Zip Code | 77075-1180 |
City Area Code | 713 |
Local Phone Number | 944-6900 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, par value $0.01 per share |
Trading Symbol | POWL |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
Amendment Flag | false |
Entity Central Index Key | 0000080420 |
RHY_U=3_ 102P,$% @ XH:%59>* MNQS $P( L !?3T\$MP>:4#M.*2VBZD8_1!2:5K5N %( MMB6/: (7->=I3W;+T]! M;X"O.DQQ0FE(2S,.\,W2?S+W\PPU1>5*(Y5;&GC3Y?YVX$G1H2)8%II%R=.B M':5_'B4?'D78FYJD6:>IK&HP=MX1PT$G53$WHI"/J:Q8;!EK '$NW2:9;/46PQF MN1BUMIS> A(H!"DHV1%[A$O\G7 D(GP&LK\,S4-AB.G8RF2&]B]#V,YU#BG/]3(U45%K"FHO409.B1 MP74&0ZRQB28)UD-N5G0&[O+H YMRR"9JZJ8IGJ,.>%,.]D9/)508H'Q3F:B\ M]E-L.>F.7F=Z_S!YU!Y:YU;*O8=7LN48Y0]02P,$% @ XH:%520> MFZ*M ^ $ !H !X;"]? +7_OR4Z?:!1W M;J"V\R1&:P;*9,OL[P"D6[2*+L[C,$]J%ZSB688&O-*]:A"2*+I!V#-DGNZ9 MHIP\_D-T==UI?#C]LCCP#S"\7>BI160I2A4:Y$S":+8VP5+BRTR6HJ@R&8HJ MEG!:(.+)(&UI5GVP3TZTYWD7-_=%KLWC":[?#'!X=/X!4$L#!!0 ( .*& MA55ED'F2&0$ ,\# 3 6T-O;G1E;G1?5'EP97-=+GAM;*V334[#,!"% MKQ)E6R4N+%B@IAM@"UUP 6-/&JO^DV=:TMLS3MI*H!(5A4VL>-Z\SYZ7K-Z/ M$;#HG?78E!U1?!0"50=.8ATB>*ZT(3E)_)JV(DJUDUL0]\OE@U#!$WBJ*'N4 MZ]4SM')OJ7CI>1M-\$V9P&)9/(W"S&I*&:,U2A+7Q<'K'Y3J1*BY<]!@9R(N M6%"*JX1<^1UPZGL[0$I&0[&1B5ZE8Y7HK4 Z6L!ZVN+*&4/;&@4ZJ+WCEAIC M JFQ R!GZ]%T,4TFGC",S[O9_,%F"LC*30H1.;$$?\>=(\G=560C2&2FKW@A MLO7L^T%.6X.^D X K M @ $0 @ &O 9&]C4')O<',O8V]R92YX;6Q02P$"% ,4 M " #BAH55F5R<(Q & "<)P $P @ ', 0 >&PO=&AE M;64O=&AE;64Q+GAM;%!+ 0(4 Q0 ( .*&A54CX?M1200 ( 0 8 M " @0T( !X;"]W;W)K &PO &PO7W)E;',O M=V]R:V)O;VLN>&UL+G)E;'-02P$"% ,4 " #BAH5599!YDAD! #/ P M$P @ &6$@ 6T-O;G1E;G1?5'EP97-=+GAM;%!+!08 .."0 ) #X" #@$P ! end
\]AGOV?]?#A1__YP(@?YT V]R>\?/'Y/N/?;&][U:)4V*;.:U6JE
MPBCMVHQVFU:O:3E.I>;\GP63/('FZAT13WSVVYLA#TH#AN.?.K51?#;F7CPX
MM4SSIS?S[6C4AZ;=,([#(3R'IC%[B$O4Y_W@5"X 7NB%00P3BV @]:,:;WG4
MC7O+WG!#/XQ.WYKROS-\4NK1(?L81OLU<[R5.LL6WV^XW$CU :Z6Y8#5\8>T0E6==/#IF[(.- D
M5?=EA=" _BI0"X*'O4N2=Z\9*ZL^)CON']L ;U[RW9Q]Q]I7C+6--)VRY)=
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MUWX+F;AB8;YAV[0[.)W9@_Z@>WBL=@;MA(1S=\UU 47<$Z\V ]&%3&AJ+)
M6(./3"7$4VD@KADZ>A?VK83]]]_DLO3A&;3 VBO,+\C:#&)PO?SF#VD\WZHX
MWMR>"WR7F!2774:P&E ) [,DK+ME4V>JIC)%XX90ZM-_T&$4NS1"%DV&++L_
MG_V:;WZG!_XR"6F-L<\C% RY"^2)Y#3P8X=@X#%Q"'\C