P&F INDUSTRIES, INC.

(PFIN)
  Report
Delayed Nasdaq  -  05/27 03:32:49 pm EDT
5.780 USD   +0.68%
05/13P&F INDUSTRIES INC Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-Q)
AQ
05/12TRANSCRIPT : P&F Industries, Inc., Q1 2022 Earnings Call, May 12, 2022
CI
05/12Earnings Flash (PFIN) P&F INDUSTRIES Posts Q1 Revenue $14M
MT
SummaryQuotesChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

P&F INDUSTRIES : ACQUIRES BUSINESS OF JACKSON GEAR COMPANY - Form 8-K

01/21/2022 | 03:04pm EDT

P&F INDUSTRIES, INC. ACQUIRES BUSINESS OF JACKSON GEAR COMPANY

MELVILLE, N.Y., January 18, 2022 - P&F Industries, Inc. (NASDAQ: PFIN) announced that effective January 15, 2022, through a wholly owned subsidiary of Hy-Tech Machine, Inc., it acquired substantially all the non-real estate assets comprising the business of Jackson Gear Company, a Pennsylvania-based corporation that manufactures and distributes custom gears and power transmission gear products. The purchase price consisted of an aggregate of $2.3 million in cash and the assumption of certain payables and obligations.

Richard Horowitz, P&F's Chairman, President and Chief Executive Officer, stated, "I am extremely pleased to announce the acquisition of the Jackson Gear business. This acquisition further expands our gear product offerings to an even broader range of industries. In addition, the acquired knowledge and equipment will allow Hy-Tech's Power Transmission Group, or PTG, to offer among the largest gears available in the marketplace, which is a great differentiator. This really enhances the value of PTG to all current and potential customers. We believe that consolidating the operations of the acquired business within PTG operations throughout the next six to twelve months should generate cost reductions and other efficiencies as well. We expect the added revenue will more than double the size of our current PTG business. This transaction is another meaningfully strategic step for the Company, as we continue to expand our offerings in the air tools and related accessories market."

About P&F Industries, Inc.

P&F Industries, Inc., through its wholly owned subsidiaries, is a leading manufacturer and importer of power tools and accessories sold principally to the aerospace, industrial, automotive and retail markets. P&F's products are sold under its own trade names, as well as under the private labels of major manufacturers and retailers.

Forward Looking Statements

The Private Securities Litigation Reform Act of 1995 (the Reform Act) provides a safe harbor for forward-looking statements made by or on behalf of P&F Industries, Inc., and subsidiaries ("P&F", or the "Company"). P&F and its representatives may, from time to time, make written or verbal forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and in its reports to shareholders. Generally, the inclusion of the words believe, expect, intend, estimate, anticipate, will, may, would, could, should and their opposites and similar expressions identify statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and that are intended to come within the safe harbor protection provided by those sections. Any forward-looking statements contained herein, including those related to the Company's future performance, are based upon the Company's historical performance and on current plans, estimates and expectations. All forward-looking statements involve risks and uncertainties. These risks and uncertainties could cause the Company's actual results to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company for a number of reasons including, but not limited to:

Risks related to the global outbreak of COVID-19 and other public health crises;
Risks associated with sourcing from overseas;
Disruption in the global capital and credit markets;
Importation delays;
Customer concentration;
Unforeseen inventory adjustments or changes in purchasing patterns;
Market acceptance of products;
Competition;
Price reductions;
Exposure to fluctuations in energy prices;
The strength of the retail economy in the United States and abroad;
Risks associated with Brexit;
Adverse changes in currency exchange rates;
Interest rates;
Debt and debt service requirements;
Borrowing and compliance with covenants under our credit facility;
Impairment of long-lived assets and goodwill;
Retention of key personnel;
Acquisition of businesses;
Regulatory environment;
Litigation and insurance;
The threat of terrorism and related political instability and economic uncertainty; and
Business disruptions or other costs associated with information technology, cyber-attacks, system implementations, data privacy or catastrophic losses,

and those other risks and uncertainties described in the Company's most recent Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and its other reports and statements filed by the Company with the Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. The Company cautions you against relying on any of these forward-looking statements.

P&F Industries, Inc.

Joseph A. Molino, Jr.

Chief Operating Officer

631-694-9800

www.pfina.com

Disclaimer

P&F Industries Inc. published this content on 21 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2022 20:03:06 UTC.


© Publicnow 2022
All news about P&F INDUSTRIES, INC.
05/13P&F INDUSTRIES INC Management's Discussion and Analysis of Financial Condition and Res..
AQ
05/12TRANSCRIPT : P&F Industries, Inc., Q1 2022 Earnings Call, May 12, 2022
CI
05/12Earnings Flash (PFIN) P&F INDUSTRIES Posts Q1 Revenue $14M
MT
05/12P&f industries, inc. reports results for the three-month period ended march 31, 2022
PR
05/12P&F Industries, Inc. Reports Earnings Results for the First Quarter Ended March 31, 202..
CI
04/25P&f industries to report results for the three month period ended march 31, 2022
PR
04/18P&F INDUSTRIES INC : Entry into a Material Definitive Agreement, Creation of a Direct Fina..
AQ
04/18P&F Industries, Inc., Florida Pneumatic Manufacturing Corporation and Hy-Tech Enter int..
CI
03/30P&F INDUSTRIES INC Management's Discussion and Analysis of Financial Condition and Res..
AQ
03/29P&F INDUSTRIES : REPORTS RESULTS FOR THE FISCAL YEAR ENDED DECEMBER 31, 2021 - Form 8-K
PU
More news
Financials (USD)
Sales
Net income
Net Debt
P/E ratio
Yield
Capitalization 18,4 M 18,4 M -
EV / Sales -1
EV / Sales 0
Nbr of Employees 165
Free-Float 32,6%
Chart P&F INDUSTRIES, INC.
Duration : Period :
P&F Industries, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends P&F INDUSTRIES, INC.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Managers and Directors
Richard A. Horowitz Chairman, President & Chief Executive Officer
Joseph A. Molino COO, CFO, Secretary, Treasurer & Vice President
Jeffrey D. Franklin Independent Director
Mitchell A. Solomon Lead Independent Director
Kenneth M. Scheriff Independent Director
Sector and Competitors
1st jan.Capi. (M$)
P&F INDUSTRIES, INC.-5.25%18
ATLAS COPCO AB-31.51%50 865
PARKER-HANNIFIN CORPORATION-14.27%35 010
FANUC CORPORATION-16.47%30 737
SANDVIK AB-20.19%25 704
TECHTRONIC INDUSTRIES CO. LTD.-35.50%23 395