Pioneer Pow Company profile
About Pioneer Power Solutions, Inc.
Pioneer Power Solutions, Inc. manufactures, sells and services a range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. The Company’s principal products and services include switchgear and engine-generator controls, complemented by a national field-service network to maintain and repair power generation assets. The Company operates through two segments: Transmission and Distribution Solutions (T&D Solutions) and Critical Power Solutions (Critical Power). The T&D Solutions segment is engaged in the designing, manufacturing and distribution of switchgear used primarily by industrial and commercial operations to manage their electrical power distribution needs. The Critical Power segment provides new and used power generation equipment and aftermarket field-services primarily to help customers ensure power to operations during times of emergency.
Financial summary
BRIEF: For the nine months ended 30 September 2021, Pioneer Power Solutions, Inc. revenues increased 5% to $14.8M. Net loss decreased 66% to $769K. Revenues reflect T&D Solutions segment increase of 8% to $8M, Critical Power Solutions segment increase of 1% to $6.8M. Lower net loss reflects T&D Solutions segment loss decrease of 51% to $664K, Critical Power Solutions segment income totaling $34K vs. loss of $362K.
Equity composition
Common stock $.005 Par, 06/11, 75M auth., 5,907,255 issd. Insiders & Strategic owns 17.20%. IPO:TBA. 06/11, 1-for-5 reverse stock split. 06/11, Stock exchange changed to NASDAQ from OTC.
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