Powin Corp. (PWON) First Quarter Sales Up 11% from Last Year
Oregon-based Powin Corp. recently announced that sales for the first quarter of 2011, ended March 31, totaled $10.95 million, up 11 percent from sales of $9.86 million in the same period of last year. The company, a direct manufacturer of outdoor cookware products, gun safes, fitness and recreational equipment, truck parts, plastic products, renewable energy products and furniture, posted net income of $31,331 for the first quarter of 2011. Powin’s gross profits in the first quarter of 2011 totaled $1.54 million, up almost 12 percent from last year. Gross profits equal 14 percent of the company’s net revenues. Ronald Horne,…