Generac Holdings Inc., a designer and manufacturer of power
generation equipment and other engine powered products, on
Thursday reported a 10 percent increase in net sales in its
fiscal fourth quarter.
The Waukesha-based company said it had net sales of $376.2
million, compared to $342 million in the same quarter, last
Net income during the fourth quarter of 2013 was $48.5 million,
or $0.69 per share, compared to $28.3 million, or $0.41 per
share, for the same period in 2012, according to a company
For the full fiscal year, net sales increased year-over-year by
26.3 percent to $1.486 billion from $1.176 billion in 2012.
Residential product sales increased 19.6 percent to $843.7
million, compared to 2012 with revenues of $705.4 million.
On Nov. 1, Generac closed on its purchase of Baldor
ElectricCompany’s generator division, the statement said. In
addition, it also integrated the Ottomotores acquisition during
2013 and closed the acquisition of Tower Light in early August.
“2013 was another great year for Generac that helped drive a
third consecutive year of record revenues with a compounded
annual growth rate of 36 percent since implementing our Powering
Ahead strategy three years ago,” said Aaron Jagdfeld, president
and Chief Executive Officer. “Once again we experienced strong
growth across all regions of the United States, as home standby
generators further gain in popularity and the Generac brand is
increasingly recognized as the leading name in backup power.”
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