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Hammond Power Solutions 2009 Annual Report Consistent Strength In a fluctuating world, we are a beacon. We have more than survived adversity in the economy thanks to the diversity of our product. We

An investment in HPS is a solid decision. In the past 90 years, we have adapted and grown into a strong company that is not only consistent with its achievements, but also with its reputation. When ec

An investment in HPS is a solid decision. In the past 90 years, we have adapted and grown into a strong company that is not only consistent with its achievements, but also with its reputation. When ec

We dont have debt. Just duty to our stakeholders. We value honesty, integrity and ethical behaviour in our relationships with all stakeholders. We value innovation and a relentless pursuit of continu

We dont have debt. Just duty to our stakeholders. We value honesty, integrity and ethical behaviour in our relationships with all stakeholders. We value innovation and a relentless pursuit of continu

Book Value Per Share 7 6.67 6 5.95 5 4 3.87 Cash Provided By Operations in thousands of dollars 30 25 20 15 10 7,661 7,611 6,254 5 4,280 0 Total Bank Indebtedness Cash Position in thousands of doll

Book Value Per Share 7 6.67 6 5.95 5 4 3.87 Cash Provided By Operations in thousands of dollars 30 25 20 15 10 7,661 7,611 6,254 5 4,280 0 Total Bank Indebtedness Cash Position in thousands of doll

We supply peace of mind. With approximately 59,000 km 36,500 miles, the TransCanada pipeline taps into virtually all major gas supply basins in North America. It delivers to markets across Canada and

We supply peace of mind. With approximately 59,000 km 36,500 miles, the TransCanada pipeline taps into virtually all major gas supply basins in North America. It delivers to markets across Canada and

At home all over the world. Over 50 countries, 5 continents, 4 emerging markets and still counting. Through international distribution channels, HPS has supplied the transformers that regulate the po

At home all over the world. Over 50 countries, 5 continents, 4 emerging markets and still counting. Through international distribution channels, HPS has supplied the transformers that regulate the po

From solar to wind energy, HPS is rapidly expanding into technologically advanced markets that are looking for new ways to create energy and find solutions to the energy crisis. New technologies are

From solar to wind energy, HPS is rapidly expanding into technologically advanced markets that are looking for new ways to create energy and find solutions to the energy crisis. New technologies are

We are proud of our results in light of the very challenging economic environment, but recognize that it is the result of sound strategic planning, diversified markets and channels, as well as the har

We are proud of our results in light of the very challenging economic environment, but recognize that it is the result of sound strategic planning, diversified markets and channels, as well as the har

Continuous power in a nice neat package. Control Transformer A variety of HPS control transformers are the source of power to pizza ovens manufactured by the worlds largest producer. HPS control tran

Continuous power in a nice neat package. Control Transformer A variety of HPS control transformers are the source of power to pizza ovens manufactured by the worlds largest producer. HPS control tran

Still no debt. After all these years. Today our custom transformers are helping to power drive systems, mining equipment, oil and gas drilling platforms, wind mills and water treatment plants in count

Still no debt. After all these years. Today our custom transformers are helping to power drive systems, mining equipment, oil and gas drilling platforms, wind mills and water treatment plants in count

dollars in thousands unless otherwise stated We are very proud of our strong financial position, especially during these tough economic times. ...we will continue to build on and enhance our key stre

dollars in thousands unless otherwise stated We are very proud of our strong financial position, especially during these tough economic times. ...we will continue to build on and enhance our key stre

dollars in thousands unless otherwise stated 2009 Financial and operating highlights The Companys bookings visibility is much shorter as many of our customers face an uncertain and unpredictable dema

dollars in thousands unless otherwise stated 2009 Financial and operating highlights The Companys bookings visibility is much shorter as many of our customers face an uncertain and unpredictable dema

dollars in thousands unless otherwise stated 2009 Managements Discussion and Analysis Revised May 31, 2010 Hammond Power Solutions Inc. HPS or the Company is a North American leader in the design and

dollars in thousands unless otherwise stated 2009 Managements Discussion and Analysis Revised May 31, 2010 Hammond Power Solutions Inc. HPS or the Company is a North American leader in the design and

dollars in thousands unless otherwise stated 2009 Managements Discussion and Analysis target markets, assisted by the improvement in market conditions in the electrical industry in the U.S. and Canad

dollars in thousands unless otherwise stated 2009 Managements Discussion and Analysis target markets, assisted by the improvement in market conditions in the electrical industry in the U.S. and Canad

dollars in thousands unless otherwise stated 2009 Managements Discussion and Analysis The allocation of the acquisition costs for DTI as at January 1, 2008, is as follows Accounts Receivable 5,232 I

dollars in thousands unless otherwise stated 2009 Managements Discussion and Analysis The allocation of the acquisition costs for DTI as at January 1, 2008, is as follows Accounts Receivable 5,232 I

dollars in thousands unless otherwise stated 2009 Managements Discussion and Analysis funds spent on manufacturing capacity expansion initiatives in several of our other locations, productivity impro

dollars in thousands unless otherwise stated 2009 Managements Discussion and Analysis funds spent on manufacturing capacity expansion initiatives in several of our other locations, productivity impro

dollars in thousands unless otherwise stated 2009 Controls and Procedures Risks and uncertainties As with most businesses, HPS is subject to a number of marketplace, industry and economic related bus

dollars in thousands unless otherwise stated 2009 Controls and Procedures Risks and uncertainties As with most businesses, HPS is subject to a number of marketplace, industry and economic related bus

Consolidated Balance Sheets 2009 Auditors Report Managements Responsibility for Financial Statements The Consolidated Financial Statements are the responsibility of the management of Hammond Power So

Consolidated Balance Sheets 2009 Auditors Report Managements Responsibility for Financial Statements The Consolidated Financial Statements are the responsibility of the management of Hammond Power So

Consolidated Balance Sheets 2009 Auditors Report Managements Responsibility for Financial Statements The Consolidated Financial Statements are the responsibility of the management of Hammond Power So

Consolidated Balance Sheets 2009 Auditors Report Managements Responsibility for Financial Statements The Consolidated Financial Statements are the responsibility of the management of Hammond Power So

Consolidated Statements of Earnings and Comprehensive Earnings Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars except earnings per share Consolidated Statements of Shar

Consolidated Statements of Earnings and Comprehensive Earnings Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars except earnings per share Consolidated Statements of Shar

Consolidated Statements of Cash Flows Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008

Consolidated Statements of Cash Flows Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Notes to Consolidated Financial Statements Years ended December 31, 2009 and

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Selected Annual and Quarterly Information tabular amounts in thousands of dol

Notes to Consolidated Financial Statements Years ended December 31, 2009 and 2008 tabular amounts in thousands of dollars Selected Annual and Quarterly Information tabular amounts in thousands of dol

Hammond Power Solutions Inc. Canada Corporate Head Office 595 Southgate Drive Guelph, Ontario N1G 3W6 Phone 519 8222441 15 Industrial Road Walkerton, Ontario N0G 2V0 Phone 519 8813552 The Hammond Muse

Hammond Power Solutions Inc. Canada Corporate Head Office 595 Southgate Drive Guelph, Ontario N1G 3W6 Phone 519 8222441 15 Industrial Road Walkerton, Ontario N0G 2V0 Phone 519 8813552 The Hammond Muse

Energy and persistence conquer all things Benjamin Franklin

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