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HPS Hammond Power Solutions Inc. Hammond Power Solutions Inc. QUARTER 2 , 2021 FINANCIAL RESULTS ( Dollar amounts are in thousands unless otherwise specified ) HIGHLIGHTS Sales increased 17 % to $ 88.3 million in Qtr . 2 , 2021 from $ 75.4 million in Qtr . 2,2020 Bookings increased 33 % compared to prior year • • • Order backlog increased 14 % over prior year • Net Earnings increased 6.1 % in the quarter and 6.4 % year - to - date • Earnings per share increase in the Quarter to $ 0.40 and $ 0.59 year - to - date Guelph , Ontario , July 22 , 2021 Hammond Power Solutions Inc. ( " HPS " ) ( TSX : HPS.A ) a leading manufacturer of dry - type and cast resin transformers and related magnetics , today announced its financial results for the Second Quarter of 2021 . SECOND QUARTER RESULTS " Over the last five years we have invested heavily in our distributor network , doubling its size , diversifying the product offering and significantly expanding our sectoral reach , " said Bill Hammond , Chairman and CEO of Hammond Power Solutions . " Hammond is experiencing a resurgence in business activity across all sectors which is underpinned by the strength in our network . Our leading market position in this economic recovery phase and focus on quality have accelerated our growth as we gain footholds in new markets including , solar , energy storage , and electric vehicle charging . We are also seeing strength in the more cyclical sectors we have traditionally served , including mining and oil and gas markets , driven higher by the recovering global economy and ongoing consumption of resources . " " Our second quarter financial results were highlighted by an increase in our profitability , through a combination of sales growth , cost reductions , higher manufacturing volumes as well as the ability to realize selling price increases , " said Richard Vollering , CFO of Hammond . " Looking forward , we will continue to implement price increases to meet inflationary pressure that will impact previously booked back log . We expect to see these increases work their way through our back log in the second half of 2021. " Sales for the quarter - ended June 26 , 2021 were $ 88,277 , an increase of $ 12,884 or 17.1 % from Quarter 2 , 2020 sales of $ 75,393 . The sales growth was a result of surging economic activity as business conditions improved , deferred projects were released and companies began to open up as the number of individuals vaccinated against the COVID - 19 global pandemic increased . Year- to - date 2021 sales increased $ 4,585 or 2.8 % to $ 168,398 compared to $ 163,813 in 2020. Sales in the United States ( " U.S. " ) stated in Canadian dollars increased by $ 1,161 or 2.2 % , finishing at $ 53,053 for Quarter 2 , 2021 compared to $ 51,892 in Quarter 2 , 2020. Year - to - date U.S. sales were $ 99,558 in 2021 and $ 108,223 in 2020 , a decline of $ 8,675 or 8.0 % . U.S. sales , when stated in U.S. dollars were $ 43,100 in Quarter 2 , 2021 , compared to Quarter 2 , 2020 of $ 37,314 , an upsurge of $ 5,786 or 15.5 % . Year - to - date U.S. sales stated in U.S. dollars were $ 79,765 in 2021 compared to $ 79,397 in 2020 , a Page 1 of 5