PSI's net sales for 1Q grow 29 percent

WOOD DALE - Power Solutions International's net sales for the first quarter of 2015 rose 29 percent on continued growth of the company's power generation systems.

Net sales for the quarter were $86.1 million, up from $66.7 million in the first quarter of 2014. Contributing to the sales increase was continued growth in the Company's heavy-duty power generation systems, material handling and aftermarket parts sales.

"Our solid results this quarter confirm the resiliency of our business model, which addresses a diverse array of stable industrial end markets, and then layers on attractive growth opportunities," stated Gary Winemaster, chairman and CEO of Power Solutions.

Winemaster said the company's recent acquisition of Powertrain Integration is expected to help PSI grow it prominence in the market.

"This is one of our most important deals to date," he said. "Combining with PI positions us as a leader in providing gasoline and alternative-fuel engines to medium duty truck and bus fleets.

"The deal broadens our line of engines, extends our customer penetration into new truck market leaders, and brings to PSI a team of highly talented executives, sales professionals, and engineers. We can now more effectively address a market opportunity that we believe could be over $1 billion annually in the years ahead."