05:50 PM EDT, 07/25/2024 (MT Newswires) -- Hammond Power Solutions (HPS-A.TO) on Thursday said its second-quarter profit rose 77% on record sales.

The power-systems manufacturer said it earned $23.59 million, or $1.98 per share, in the period, up from $13.33 million, $1.12, in the year-prior quarter.

The company reported sales of $197 million in the quarter, up 14%.

"Hammond Power Solutions had a busy and exciting second quarter with the official opening of a new factory in Mexico and achieving record all-time shipments once again," said Adrian Thomas, CEO of Hammond Power Solutions, in a statement.