Pioneer Power Solutions rises on surprise Q4 profit

Pioneer Power Solutions

31/03/2023 13:30

** Shares of Pioneer Power Solutions Inc  PPSI.O  up 7.5% at
$3.15 premarket
    ** Co reports Q4 net profit of 10 cents per share vs net
loss of 16 cents per share, a year earlier
    ** Q4 revenue nearly tripled to $9.5 mln from $3.5 mln in Q4
2021, due to higher sales of E-Bloc power systems and automatic
transfer switches 
    ** Sees 2023 total revenue between $42 mln and $45 mln;
expects to post net income for 2023
    ** YTD, shares have gained ~9% through last close  

 (Reporting by Yamini Kalia)
 ((Yamini.Kalia@thomsonreuters.com))