Canadian Electrical Wholesaler

 

Hammond PowerHammond Power Solutions Inc. announced its financial results for the first quarter of 2015. Sales for the quarter-ended March 28, 2015 were $63,137,000, an increase of $3,184 or 5.3% from Q1, 2014 sales of $59,953,000. The company has been lifted by a modestly improved, construction, alternative energy, and project market segments. International sales for Q1, 2015 finished at $7,336,000 versus $8,276,000 in Q1, 2014, a decrease of $940 or 11.4%.

The company increased bookings 14.8% over Quarter 1, 2014 due to stronger bookings in both the distributor and direct channels in North American and International markets. Booking rates in the distributor channel increased 11.4% over Q1, 2014. On a direct channel basis, bookings exceeded

Q1, 2014 by 17.8%. Backlog increased 16.6% over Q 4, 2014 and finished higher by 15.8% when compared to Quarter 1, 2014 due to higher booking rates in several markets including the Canadian and U.S. OEM markets.

HPS CEO Bill Hammond commented, "We are enjoying the largest growth in bookings and backlog across all of our global operations since 2012."

Q1 2015 earnings from operations was $1,446,000, an increase of $143,000 or 11.0% from $1,303,000 for the same quarter last year. The improvement in the quarter is a result of higher sales, increased gross margin dollar contribution and a higher foreign exchange gain.

In Q1, 2015, the company announced that it had completed the formation of a new joint venture company, Corefficient S. de R.L. de C.V. ("Corefficient"). Corefficient will design, manufacture and market energy efficient electrical cores, a major component used in the manufacture of dry type and liquid filled transformers. Corefficient will be based out of Monterrey, Mexico, where a state of the art manufacturing facility is currently under construction and will be fully operational by Q4 2015.

Hammond commented, "Corefficient is an exciting venture and is reflective of the strong, long-term relationship between Hammond Power Solutions Inc. and National Material LP. Both partners bring the value of people, technology and financial strength to Corefficient. The manufacturing operation will be world class."

Hammond concluded, "We are cautiously optimistic about our growth going forward. This is supported by our growing bookings and backlog and we continue to expand our penetration of the geographies we serve. We are confident that our financial strength, core competencies and long term strategies will accelerate our growth as markets start to improve."

 

 

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National ManufacturingExcellence in Manufacturing Consortium EMC’s Advantage through Excellence: Future of Manufacturing Conference is a 2½ day event exploring the competitive advantages, opportunities and successes that can be achieved by manufacturers through a variety of learning forums — up to 40 workshops, panel sessions, keynote presentations and best practice plant tours — providing delegates with outstanding opportunities for benchmarking, peer networking, learning and sharing of hundreds of best practices. An estimated 500 to 900 manufacturing leaders and stakeholders from across Canada are expected to attend. 

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Rick McCartenBy Rick McCarten

I think it was Bill Gates who said the Internet will not have an effect on society short term, but will have a profound effect on us long term. 

Long term versus short term fascinates me. Making the call for one over the other can determine the success (or failure) of companies today. 

Using Bill Gates’ long-term Internet effect example, means that business decisions about the Internet will not necessarily show short-term gain, but will show “profound” gain in the long term.

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CEW 3 Perspective 400

We often learn how to look forward by first looking back, or at the very least we realize that despite our best efforts we have not truly advanced quite so much as we had thought. Sure, technology is rapidly advancing. That’s beyond question. But what about our approach to selling it? Have we changed that much in the last 20, 40, 60 years? Inevitably there have been advances and changes in marketing, the Internet causing the biggest shift, but many of the concerns and directives that have driven the distribution and marketing of industrial electrical products remain, or at least planted the roots of the concerns of manufacturers and distributors today. 

To gain perspective of the perceptions and directions of electrical product distribution in 1960, we turn to Edwin H. Lewis. In 1960 Lewis published “The Distribution of Industrial Electrical Products” in the Journal of Marketing.

To fully define electrical product distribution in 1960, Lewis broke his study into several categories. We will follow his direction and provide his insights on the industry in each of the categories he identified.

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