01:53 PM EDT, 03/15/2024 (MT Newswires) -- Maxim Power Corp. ( MXGFF ) said overnight Thursday that it swung to fourth-quarter net income of $19.5 million, or $0.32 per diluted share, from a net loss of $7.2 million, or $0.14 per diluted share, a year earlier.

Revenue for the quarter ended Dec. 31, 2023, was $39 million. The company did not report revenue for the year-ago quarter.

Adjusted EBITDA for Q4 was $31.5 million, up from $1.7 million a year earlier.

Maxim's current normal course issuer bid program is for the Aug. 31, 2023, to Aug. 30, 2024, period. Under this NCIB, the company may buy for cancelation up to 2.6 million common shares.

The company's stock rose 8.6% on last look on Friday.

Price: 4.90, Change: +0.39, Percent Change: +8.65