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Superstorm powers Generac projections

Nov. 7, 2012

The massive power outages on the east coast following superstorm Sandy have resulted in an increase in distribution at Generac Holdings Inc., headquartered in Genesee, and an even higher financial projection for the end of the year.

Following a year of strong numbers, net sales increased year-over-year by 25.6 percent to $300.6 million in the third quarter of 2012 as compared to $239.3 million in the third quarter of 2011.

Net sales for the third quarter of 2012 were in line with the high end of the company's previously announced expected range of $295 to $300 million as pre-released on Oct. 1.

Residential product sales increased 17.8 percent compared to the strong third quarter of 2011, in which year-over-year sales growth was 60.5 percent.

Commercial and industrial product sales increased 48.3 percent compared to the prior year third quarter.

As a result of the current major power outage activity, the company is raising its sales growth guidance for full-year 2012 to the low-40 percent range over the prior year, which represents an increase from the low-30 percent growth rate previously expected in the Oct. 1 business update. Diluted net income per common share for 2012 is now expected to be in the range of $1.21 to $1.27, with adjusted diluted net income per common share of $2.95 to $3, compared to the $2.65 to $2.70 per share range previously expected.

"The events of the last few days continue to demonstrate for home owners and business owners the importance of having a backup plan for their power needs. Automatic standby generators have emerged as a cost-effective and increasingly important part of those backup plans. As a result of the increased awareness these outage events provide, adoption rates for home standby and light commercial generators have accelerated over the last several years." said Aaron Jagdfeld, President and Chief Executive Officer after recent storm events.

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Weekend Happenings

Featured this week:  

Dousman FD Pancake Breakfast: 8 a.m.-12 p.m.  Oct. 11, Dousman Fire Department, 107 S. Main, Dousman. Also includes Flight for Life at 9 a.m.; room fire demonstration (live fire) at 10 a.m.; car extrication demonstration at 11 a.m.  plus balloon creations (8-10 a.m.),  bounce house.  Waukesha County Communications (9-1-1), Waukesha County Sheriff K-9, Waukesha County Mobile Command Unit, ATF vehicle.

Pancake Breakfast Fundraiser: 7 a.m. -12 p.m. Oct. 10, Oconomowoc Volunteer Fire Department, 212 Concord Road, Oconomowoc. Free will donations appreciated. Also includes fire trucks and displays, raffles, kids activities. Proceeds go toward the purchase of new emergency equipment.

Move Your Mutt for HAWS: 7 a.m. Oct. 10, Genesee Lake Road Town Park, Genesee Lake Road, Oconomowoc. Choose the 5K and bring your pet or run the 10K without your dog. There is also a one-mile walk. Raise $100 in pledges and race for free. Food and beverages available as well as vendor booths and adoptable pets from HAWS. $25 one-mile walk, $45 for 5K, 10K.


Tyke Hike: 10 a.m. Oct. 10, Lapham Peak State Park, W 329 N 846, Delafield. Please meet at the observation tower. Look for yellow ’Ice Age Trail Event’ signs. Tyke hikes are 60- to 90-minute slow-paced hikes promoting nature and family hiking in an outdoor educational setting. 


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