Page 4 - AnnualReport2014

14
14
ve Officer
MAGNETEK PRODUCTS INSTALLED
To OurTSotoOcukrhoSltdoecrksh:olders:
1
1
,
0
0
0
came part of Magnetek’s wiFreislceassl c2o0n1tr4olpbruosviendeFsistsoc,able2a0n14expcreopvteiodntaol byeaarninextecrempstionf asal lyeesagrrionwtethr,mms aorfgsianles growth, mar
ontrols on overhead
cra
nes
MINING DRIVES
ienx
p1a9n
nT,heanpdrepdreoecfxeitpsasabonirlsiitoyno,naannd apdrojufistatebdilibtyasoisn, aenxcaluddjuinsgteda bnaosni-sc,aesxhcpluednisnigona non-cash pen
6s0io.
business, Power Control Corporation, was formesdettilnement charge. We exceeded both our sales growth and adjusted opera settlement charge. We exceeded both our sales growth and adjusted operating income
ory, the accomplishm
ents
of
to
day
’s M
ELEVATOR DRIVES
d support.
200,000
ADJUSTABLE FREQUENCY CRANE CONTROLS
21,000
in 1981, Electromotive Systems became Magnetek’s crane
objectives andMgeAnoTebrEajRetecIAdtivLseusHffaiAcniedNngtDecLnaIesNhraGtoedfBusnRudAffiocKuieErnSotrcgasnhictogfruonwdthouinritoiargtiavensicagnrdowmteheitnitiativ
first company to use adjustable frequency drives to control
our pension obligaotiuornsp.eTnhseioyneoabrlisgtarttieodnso.uTthseomyeawrhsatatrstleodwolyu,tassomitetywphicaatlslylodwolye,sadsuiet typicall
9
4
,
gnetek has been involved in many electrical and power
0
0
0
to seasonal buyingtopasettearsnosnainl bouyr isnegrvpeadttmerantseriniaol uhransedrlvinegd martkeeritas.l Thoanadssliunrge markets. To ass
160,000
e next 30 years of providing our partners with innovative
agnetek businesses
acceptable levels oafcpcreopfitta,belaerleyvienls2o0f1p4rowfiet,iemaprleyminen2t0ed14awnuemimbeprleomfepnrtiecdinga,number of pric
nd form the foundation of our expertise in the industries we
repositioning, and rceopsot srietidouncintigon, ancdtiocnos.t Aresdduecmtioandacitniocrnesa. sAesddaenmdasnadleisncgreawseodvearnd sales g
WIRELESS CONTROLS
time, we continuedtitmoec,ownterocloonutirnsupeedntdoincgo,nrteroslulotiunrgspinensidginigfi,carenstuoltpinegraintinsgiglneivfiecrangteoipnerating
the business and outhtsetabnudsingesps raonfidtaobuiltistytaindtihneg spercoofintadbhilaitlyf oinf the ysecaor.nIdmhparolfvoefmtehnet yinear. Imp our business fundamouernbtaulsi,nteosgseftuhnedrawmitehnmtaelsa,ntiongefuthleprrwogitrhesmsemaandinegifnulrperdougcriensgsomuarde in redu
pension, was reflecptednsinona, swuabstraenflteiaclteindcirneasesuibnsotaunrtisahlairnecrperaicse in foisucraslh2a0re14p.riWceein fiscal 2 contributed $19 miclloionntriibnucteadsh$a1n9dmmiloliorentihnacna$sh7 amnidlliomnoirne Cthoamnp$a7nymcilolimonmionnCsotomcpkatony comm
330,
Highlights in 2014Hinigchlulidgehtas isnhi2ft0i1n4minxcbluadcekatosshoifmt ienfmairxlyblacrgketoosrodmeres ifnaiorluyrlarge orders in material handling bmuasitenreisasl dhuarnindglintghebsuescinoensds hdaulrfinogf the ysecaor.nIdn haaplfrofjetchtevyaeluaer.dIn a project v at over one millionadtollvaerrs,ownembeillgioandmoolldaersrn,iwziengbethgeancomnotrdoelsrnoinzitnhgetphoewceorntprolalsnton the powe cranes at the HoovceraDnaesma.tWthecHoomomveisrsiDoanmed. Wa emiclloiomnmdisosliloanreadutaomailtliionpdroljlaecrtaauttomation p
a Boeing airplane awiBnogeainsgseamirbplylapnelanwti,nagnadswseemcbolymplaetnetd, andlarwge,choimghplyetendgainleaergred, highly e
0
0
0
PENDANT STATIONS
lan assetspednusrionng pthlaenyeaassr,etismdpurorivnigngthteheyefuanr,diemdpsrtoavtuinsgotfhtehefupnldaend. Astsatausreosfutlht,e plan
pe
we expect a favorawbeleeixmppeaccttaofnavoouraebalerniimngpsacatnodncoausrheflaorwninggosinagndforcwasahrdfl.ow going forward
nsi
on p
. Selected Financial Results
project for Nucor Spteroejle. cInt faodr dNituiocnortoStienetrl.odInucaidndgitsieovnetroalinteroxdt ugceinegrasetivoenraplrondeuxct tgs,eneration p
CONTACT INFORMATION
we received two pawtenrtescdeuivriendgtwthoe pyeaaternftosrdnuerwingfetahteuryeesaornfoorunrecwrafneeatcuorenstrolns.oIunr crane cont
May, we achievedMhazya, rwdeouasclhoiceavetidonhacezratirfdicoautsiolnoscaotniosnocmeertiofifcoautirownsiroenlessomcoenotrfoolsu,r wireless
Gross Profit as a % of Sales
allowing for worldwalildoewuinsge fionrawpoprlilcdawtiodnesusuechinaaspopilicaantdiongsas,ucphetaroscohielmanicdalg,asb,opvetrochemic
INVESTOR FY ANNUAL produc1ts0des1i1gne1d2ptorocd1ou3ncttrso1ld4semsiaglnleflduitdo-pcownteroreldsmallchfliunieds-puoswederiendamgarichuilntuerse,used in agricultu
ground mining, andgrcohuenmdicmainl ipnlga,ntasn. dWceheamlsoicainltproladnutcse.dWaenaelswolinteroodfu“cmedinia” nweiwrelleinsse of “min
RELATIONS STOCKHOLDERS’
38.0%
construction, forestrcyo,nastnrducwtionrk, ftorureckstsr.y,Inaonudr weloervkatrourcdksr.ivIen bousrineelesvsa, teoarrdlyriivnethbeusyineeasrs, early
MEE
TING
®® 3w6.e0%announced surpwaessaingnothuenc2e,d00su0rpuansitsingstathlled2,m0a0r0k ufonritoinusrtaQllueadttrmoareknfeorgoyusraQviunagttro en
Investor Relations Department
Magnetek, Inc.
®
Friday, May 1, 2015
®
drives. Sales of ourdQrivueast.trSoaledsriovef soudrurQinugatftirsocald2ri0ve1s4dwuerirnegufpiscnaela2rl0y1540wpereceunpt nearly 50 p
34.0%
year-over-year, as tyheawr-ovrledrw-yiedaer,foacsutsheonwgoreldewnideneefrogcyuscontignrueedntoenexrpgayncdo.ntFininuaeldly,to expan
N49 W13650 Campbell Drive
3w2.i0th% our mining driwveitshnouwr mapinpinrogvdedriv1feo0sr nuaosew.moan.paCprgeornvoetwrdainflogrDnuausmeylboiegnrhaotfgTorioumwr eOingEMnumber of our O
Menomonee Falls, WI 53051
Magnetek Corporate Offices
ions
M
American Stock Transfer
262.252.2903
AND
S
Y
atedBinOtheLsegceonnedrahteadlf ionf t2h0e1s4ectoncdohnatilnfuoef.2W0e14altsocsoenetignruoew. tWh epoatlesnotisaelefogrrowth po
NASDAQ
Symbol: MAG
Brooklyn, NY 11219
partner’s machinespianrCtnheirn’sa,mwacehainlseos einxpCahnidnaed, wsaeleaslsof eoxupramnidneindgsaplreosdoufctosur mining produc
30.0%
in this part of the winortlhdisdpurairntgofisthcealw2o0r1ld4d. uring fiscal 2014.
www.ma
g
n
etek.com
N49 W13650 Campbell Drive
Menomonee Falls, WI 53051
2
8.
0%
As we move into 2A0s1w5,eomurovgeroiwnttoh2in0i1tia5t,ivoeusrcgornotwintuheintoitifaotcivuessocnonotfifneuriengtoinfoncouvsaotinveoffering
2 6.0%
products, increasinpgroduurcmtsa, riknectresahsairneg, aounrdmeaxprkaentdsihnagrea,daonpdtioenxpoafnoduirngpraodoucptsioin of our pro
STOCK LISTING TRANSFER AGENT
new markets. In ounremwamteariraklehtsa. nIndloinugr mbuastienreiassl ,hwanirdeliensgs bcounsitnroelsss,awndirealuetsosmcaotniotrnols and auto
projects provide opprojretuctnsitpiersovfoidregoropwpothr,tuannitdiewsefoerxgpreocwttth,ealnadrgwereperxopjecttwthoerklawrgeer projec
Continuing Operations
g
en
er
& Trust Company, LLC
wireless control inwfluiriedlepsoswcoerntaronldinsmflaulildepqouwipemreanntdapsmplaicllaetiqounisp.mWeneteaxppelcictathtieons. We expe
EPS (Adjusted)*
FY
expans1io0n o1p1por1tu2enxitpi1ea3snsfoior1n4thoisppbourstiunneistise.sFfionar ltlhyi,sinbuasninefsfso.rtFitnoaplloy,siitnioannoeufrfsoerltvetos pforsition o
continued focus oncoenteinrguyedsafvoicnugssoton6ebn2ee0arg1gyr1osaw5vttihngdAsrivtoerbnieuneaougrroewletvhadtorrivbeursiineosusrienlevator bu
particular, and thepAasritiac-uPlacri,fiacnmdathrkeeAt shiao-uPladcipfircovmidaerkaedt dshitoiounldalpgroevoigdreapahdidcitional geograp
www.magnetek.com
800.937.5449
3.50
growth when coal gmroinwinthg wrehbeonuncodas,l wmeincinogntrienbueoutonddse, vweelocpointninouveattioveduenvedleorpgrionunnodvative un
www.amstock.com
mining applicationms iininogrdaeprptolicraetdiouncse ionuorrrdeeliratnocereodnucceoaoul.rWreiltihanocuer ofoncucos aoln. Wgriothwtohu,r focu
3.00
mining control promduincitns,gacnodntarot lthperosdaumcetst,imanedwaet athre sdaemvelotipminegwperoadreucdtsevfoerlonpeinwg products
2.50
consistent profitabicloityn,siasntedntcparsohfiftlaobwi,litwy,eabnedliecvaeshwfelohwa,vweeabseolliiedvebuwseinehsasvemoadseollid busines
2.00
1.50
that will continue tothacrtewaitlel clongti-nteuremtovaclrueeatfeorlonugr-tsetormckvhaoluderfso.r our stockholders.
1.00
0.50
I0n.0Ju0ne 2014, MagIneJtuenkec2el0e1b4ra,tMeda3g0neytekarcsesleinbcreatietsdi3nc0oyrpeoarastsioinc.eWitshilnecowrepomrartikon. While
(t0h.5is0)anniversary, wtehiasraenrneimveinrsdaerdy,thwaet tahrerroeomtsinodfetdhethcaotmthpearnoyodtsaotef tbhaecckoomvperan1y00date back o (1.00) Magnetek, Inc. © 2015
years. The MechanyicealrsA. pTphleiaMnceechCaonmicpaal nAypopfliManiclweaCuokemep,afnoyunodfeMd iilnwa1u9k0e1e, lfaotuenrded in 190
(1.50) Job number: P58553
became Louis Allis,bwechaicmheisLowuhiserAelloisu,rwehleicvhatiosrwdhrievrebousrineelesvsaotorirgdinraivtedb.uTseinleemssotoivrieginated. T
illion pension settlement charge.
Please see “Caution RegardingPFleoarwsearsde-eLo“oCkainugtioSntaRtemgaerndtsin”gonFoprawgaerd2-Loof kFionrgmS1ta0tKemfoerntsh”eofinscpaalgyea2r oefnFdoerdmD1e0ceKmfobrerth2e8f,is2ca0l1y4e.ar ended December 28,
$%