July 27, 2007
Sales, income re-energized at Hubbell
A turnaround appears to be in the works at Hubbell, the Orange-based producer of wiring systems, lighting, power systems and other electrical products. The company reported second quarter sales of $640.8 million, up 6 percent over the same period for last year, and net income was $53.3 million for the quarter, up 28 percent. It made two acquisitions in 2006, of Tennessee-based Strongwell Lenoir City and the Australian firm Austdac PTY Ltd., dropping profits 44 percent in the fourth quarter from 2005. President and CEO Timothy H. Powers attributed the recent growth to price increases for company products and cost-saving measures.
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