Magnetek’s turnaround continues

Magnetek, Inc. recently reported record fiscal third quarter net sales of $26.3 million, up from $23.3 million in the same period a year ago. The Menomonee Falls-based company reported net income for the quarter of $508,000, or 2 cents per share, was an improvement over a loss of $419,000, or 1 cent per share, in the same period a year earlier. All of Magnetek’s product lines, with the exception of Telecom Power Systems, achieved double-digit year-over-year sales growth which together with reduced operating expenses led to a significant improvement in operating income. Magnetek manufactures digital power and motion control systems used in material handling, people moving, and energy delivery.