Pioneer Power Solutions, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 15, 2022 at 04:55 pm EDT
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Pioneer Power Solutions, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 4.29 million compared to USD 5.63 million a year ago. Net loss was USD 2.52 million compared to USD 0.686 million a year ago. Basic loss per share from continuing operations was USD 0.26 compared to USD 0.08 a year ago. Diluted loss per share from continuing operations was USD 0.26 compared to USD 0.08 a year ago.
For the six months, sales was USD 10.33 million compared to USD 9.13 million a year ago. Net loss was USD 3.31 million compared to USD 0.335 million a year ago. Basic loss per share from continuing operations was USD 0.34 compared to USD 0.04 a year ago. Diluted loss per share from continuing operations was USD 0.34 compared to USD 0.04 a year ago.
Pioneer Power Solutions, Inc. designs, manufactures, integrates, refurbishes, services, distributes electric power systems, distributed energy resources, used and new power generation equipment and mobile electric vehicle (EV) charging solutions. Its products and services are sold to a broad range of customers in the utility, industrial and commercial markets. It operates through two segments: Transmission & Distribution Solutions (T&D Solutions) and Critical Power Solutions (Critical Power). Its T&D Solutions business provides equipment solutions, including e-Bloc, that help customers protect, control, transfer, monitor and manage their electric energy requirements. Its solutions are marketed principally through its Pioneer Custom Electrical Products Corp. (PCEP) brand name. Its Critical Power business provides customers with suite of mobile E-BOOST EV charging solutions, and all forms of maintenance on power generation equipment. Its products are marketed under Titan brand.
PIONEER POWER SOLUTIONS, INC. 
