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Generac Holdings reports 28% sales jump due to Superstorm Sandy

by
Generac Generator
Generac Generator

WAUKESHA, WI (WTAQ) - A Waukesha company that makes backup 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 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.

Generac reported a 49 percent sales increase for all of 2012, with total revenues of $1.2 billion. 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. 

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