Powell Industries To Buy Back $25 Mln Common Stock - Quick Facts

(RTTNews) - Powell Industries, Inc. (POWL), a supplier of custom-engineered solutions for the management, distribution and control of electrical energy, said its Board of Directors has authorized the repurchase of up to $25 million in shares of the company's common stock.

The repurchase program will be funded from cash on hand and cash provided from operating activities.

Michael Lucas, President and Chief Executive Officer, stated, "Over the past three years, we have committed over $150 million in core infrastructure investments in new facilities, machinery and equipment, and business systems. We continue to generate significant cash from operating activities and with our cash on hand and revolving credit facility, we believe we have ample capacity to pursue our growth plans."