Generac reports increased sales of generators after Hurricane Sandy
WAUKESHA - A Waukesha company that makes back-up electric generators reported a 28-percent sales increase from October-through-December, when Superstorm Sandy hit.
Generac Holdings reported a net income of $28-million-dollars in the final quarter of last year, with earnings of 41-cents a share. Figures from the previous year were much higher, due an income tax benefit of 238-million dollars. Generac reported a 49-percent sales increase for all of 2012, with total revenues of $1.2 billion dollars. The firm's net income for the year was around $93-million.
Generac CEO Aaron Jagdfeld said the company has nearly doubled its business over the last two years, after last year's 49-percent sales growth came after a 34-percent hike in 2011.