07:29 AM EDT, 03/28/2024 (MT Newswires) -- Hammond Power Solutions Inc. (HPS-A.TO) overnight Wednesday reported its Q4 2023 results.

The company generated quarterly sales of $187 million, a 29.6% increase from the $144 million, the year before.

Net earnings were $20 million, or $1.68 per diluted share, compared with net earnings of $18.2 million, and $1.53 per diluted share, for Q4 2022.

Hammond Power generated $21 million cash from its operations, versus $5.3 million, for the prior year period.

The company declared a quarterly cash dividend of $0.275 (from $0.15) per Class A subordinate voting share and Class B common share.

Hammond Power Solutions manufactures dry-type transformers, power quality products and related magnetics.