Magnetek Q2 Profit Surges, Revenue Flat - Quick Facts

(RTTNews) - Magnetek, Inc. (MAG) Tuesday said second-quarter net income increased to $2.3 million from $1.17 million in the prior year. Earnings per share were $0.68, compared to $0.35 last year.

Revenue was $27.0 million, comparable with sales levels achieved in the second quarter of fiscal 2013.

The company manufactures digital power and motion control systems used in material handling, people moving and energy delivery

Looking ahead, mid- to longer-term, the firm continues to believe that it has great opportunities to increase the value of the company through a combination of steady growth in sales and profits, consistently strong cash flow generation, and further reductions in pension obligation.