Articles from Power Solutions International, Inc.

WOOD DALE, Ill., Dec. 24, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced today that The Nasdaq Stock Market LLC (“Nasdaq”) has approved its application for uplisting the Company’s common stock to Nasdaq. PSI’s common stock is expected to commence trading on Nasdaq at the opening of the market on December 26, 2024, under the Company’s current ticker symbol “PSIX.”

WOOD DALE, Ill., Nov. 19, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, today announced that Dino Xykis, Chief Executive Officer, Kenneth Li, Chief Financial Officer, Randall Lehner, General Counsel and Head of Investor Relations, and William Buzogany, VP of Human Resources and Senior Counsel at PSI will participate in investor meetings at the Craig-Hallum 15th Annual Alpha Select Conference on November 19, 2024, in New York, NY.

Net Income of $17.3 million, up 122% from a year earlier,

PSI’s engines to be on display at Worlds Largest Tree Care Show

WOOD DALE, Ill., Oct. 04, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (PSI) (OTC Pink: PSIX), a global leader in the design, engineering, and manufacture of advanced, emission-certified engines and power systems, is excited to announce its attendance in The Battery Show, scheduled from October 7 to 10, 2024, at Huntington Place in Detroit, Mich.

WOOD DALE, Ill., Sept. 06, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) closed on its new uncommitted senior secured revolving credit agreement (the “Credit Agreement”), with Standard Chartered Bank (“Standard Chartered”) and two other lenders. The Credit Agreement allows the Company to borrow up to $120 million at a lower interest rate than previously available and expires on August 30, 2025.

Net Income was $21.5 million, an increase of 236% from a year earlier,

WOOD DALE, Ill., May 21, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) announced today that it amended and restated its $25 million shareholder’s loan agreement (the “$25 Million Third Amended and Restated Shareholder’s Loan Agreement”) with its majority stockholder, Weichai America Corp. (“Weichai”), dated as of May 20, 2024, to extend the loan maturity date to May 20, 2025. The $25 million loan under the $25 Million Third Amended and Restated Shareholder’s Loan Agreement has been fully drawn as of the date of this release and is subordinated in all respects to the Company’s existing $50 million senior secured revolving credit facility with Standard Chartered Bank (of which $40 million has been borrowed as of May 20, 2024).

Net Income increased by 91%, EPS were $0.31, an increase of $0.15 for the Quarter,

Companies will display 8.8-liter Power System Engine during energy product-focused show, scheduled from April 16 to April 18 in Dubai.

The improved site, www.psiengines.com, features a refreshed look and user-friendly navigation

WOOD DALE, Ill., March 28, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) amended its $130 million uncommitted senior secured revolving credit agreement (the “Fourth Amended and Restated Credit Agreement”), with Standard Chartered Bank, as administrative agent (“Standard Chartered”), and the lenders party thereto from time to time. The Fourth Amended and Restated Credit Agreement extends the maturity date of loans outstanding under its previous credit facility to the earlier of March 21, 2025 or the demand of Standard Chartered. The Fourth Amended and Restated Credit Agreement has an outstanding principal balance of $50 million with no principal payments scheduled as of the date of this release.

Renewable fuel now available for stationary power generation applications across several industries

Net Income $8.4 million, EPS $0.36 for the Quarter

WOOD DALE, Ill., March 01, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company”) today announced that on February 7, 2024, the Board of Directors of the Company appointed Randall D. Lehner as its General Counsel, effective March 4, 2024.

Husker Power Products and Amarillo Wind Machines spotlighting engines during the show, scheduled from February 13 to February 15 in Tulare, Calif.

Leading Power Generation Solutions Provider to Exhibit at PowerGen in New Orleans

WOOD DALE, Ill., Dec. 05, 2023 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced today that it amended and restated its $50 million shareholder’s loan agreement with its majority stockholder, Weichai America Corp. (“Weichai”), dated as of November 29, 2023 (the “Third Shareholder’s Loan Agreement”), to extend the loan maturity date to November 30, 2024. The $50 million loan under the Third Shareholder’s Loan Agreement has been fully drawn as of the date of this report and is subordinated in all respects to the Company’s existing $130 million senior secured revolving credit facility with Standard Chartered Bank (of which $65 million has been fully borrowed as of December 5, 2023).

PSI and Morbark to feature new 30kw electric powertrain solution during TCI Expo in St. Louis

PSI’s gas and electric power units to be on display alongside Morbark equipment at Worlds Largest Tree Care Show

Gross Profit increased by 16%, EPS were $0.34, an increase of $0.20 for the Quarter,

Gross Profit increased by 47%, EPS increased $0.22 or $0.28 for the Quarter,Operating Cash Flows increased $34.4 million; Debt decreased $20.7 million

WOOD DALE, Ill., May 17, 2023 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced today that it amended and restated its $25 million shareholder’s loan agreement with its majority stockholder, Weichai America Corp. (“Weichai”), dated as of May 12, 2023 (the “Second Shareholder’s Loan Agreement”), to extend the loan maturity date to May 20, 2024. The $25 million loan under the Second Shareholder’s Loan Agreement has been fully drawn as of the date of this report and is subordinated to the Company’s existing $130 million senior secured revolving credit facility with Standard Chartered Bank ($125 million loan outstanding as of this report).

Net Sales Grow by 18% in the Quarter, EPS increased $0.27 or $0.16 for the Quarter

WOOD DALE, Ill., April 25, 2023 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (“PSI” or “the Company”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced that effective April 24, 2023, it has appointed its current Interim Chief Executive Officer, Dino Xykis, as its permanent Chief Executive Officer. Mr. Xykis has served as the Interim Chief Executive Officer since June 2022. Mr. Xykis will also retain the role of Chief Technical Officer which he has served as since March 2021.

WOOD DALE, Ill., March 31, 2023 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced fourth quarter and full year 2022 financial results.

WOOD DALE, Ill., March 30, 2023 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) amended its $130 million uncommitted senior secured revolving credit agreement (the “Third Amended and Restated Credit Agreement”), with Standard Chartered Bank as administrative agent (“Standard Chartered”), and the lenders party thereto from time to time. The Third Amended and Restated Credit Agreement extends the maturity date of loans outstanding under its previous credit facility to the earlier of March 22, 2024 or the demand of Standard Chartered. The Third Amended and Restated Credit Agreement is fully drawn as of the date of this release.

Power Systems engines spotlighted through February 21st to the 23rd in the Orange County Convention Center in Orlando, Florida.

New machine featured during World of Concrete 2023

WOOD DALE, Ill., Dec. 02, 2022 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced today that it amended and restated its $50 million shareholder’s loan agreement with its majority stockholder, Weichai America Corp. (“Weichai”), dated as of November 29, 2022 (the “Third Shareholder’s Loan Agreement”), to extend the loan maturity date to November 30, 2023. The $50 million loan under the Third Shareholder’s Loan Agreement has been fully drawn as of the date of this report and is subordinated in all respects to the Company’s existing $130 million senior secured revolving credit facility with Standard Chartered Bank (all of which has been fully borrowed as of December 2, 2022).

Net Income of $3.2 Million, an Improvement of $10.4 Million