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EXHIBIT 99.1
 
 Contacts:
    
    Don R. Madison, CFOFOR IMMEDIATE RELEASE
    
    
    
    Powell Industries, Inc.713-947-4422Ken Dennard / ksdennard@drg-e.comKaren Roan / kcroan@drg-e.comDRG&E / 713-529-6600
 POWELL INDUSTRIES ANNOUNCES FISCAL 2007
THIRD QUARTER RESULTS
  ®




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YEAR-TO-DATE RESULTS
  OUTLOOK
   CONFERENCE CALL




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http://www.powellind.com http://www.powellind.com
 www.powellind.com
 Any forward-looking statements in the preceding paragraphs of this release are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors
are cautioned that such forward-looking statements involve risks and uncertainties in that actual
results may differ materially from those projected in the forward-looking statements. In the
course of operations, we are subject to certain risk factors, including but not limited to the
results of the Companys internal investigation relating to the accounting errors, competition and
competitive pressures, sensitivity to general economic and industrial conditions, international
political and economic risks, availability and price of raw materials and execution of business
strategy. For further information, please refer to the Companys filings with the Securities and
Exchange Commission, copies of which are available from the Company without charge.
 - Tables to follow -




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POWELL INDUSTRIES, INC. & SUBSIDIARIES
 
 CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
 Three Months Ended
    
    
    Nine Months EndedJune 30, 2007
    
    
    July 31, 2006
    
    
    June 30, 2007
    
    
    July 31, 2006(As restated)
    
    
    
    
    
    
    (As restated)(In thousands, except per share data)
    
    (Unaudited)
    
    
    (Unaudited)Revenues
    
    $
    149,131
    
    
    $
    104,021
    
    
    $
    413,819
    
    
    $
    286,265Cost of goods sold
    
    
    121,705
    
    
    
    85,249
    
    
    
    343,538
    
    
    
    232,909Gross profit
    
    
    27,426
    
    
    
    18,772
    
    
    
    70,281
    
    
    
    53,356Selling, general and administrative expenses
    
    
    21,750
    
    
    
    15,705
    
    
    
    56,476
    
    
    
    42,540Income before interest, income taxes and minority interest
    
    
    5,676
    
    
    
    3,067
    
    
    
    13,805
    
    
    
    10,816Interest expense
    
    
    922
    
    
    
    476
    
    
    
    2,529
    
    
    
    1,137Interest income
    
    
    (110
    )
    
    
    (197
    )
    
    
    (410
    )
    
    
    (736
    )Income before income taxes and minority interest
    
    
    4,864
    
    
    
    2,788
    
    
    
    11,686
    
    
    
    10,415Income tax provision
    
    
    1,724
    
    
    
    1,231
    
    
    
    4,154
    
    
    
    4,210Minority interest in net income (loss)
    
    
    (30
    )
    
    
    7
    
    
    
    79
    
    
    
    22Net income
    
    $
    3,170
    
    
    $
    1,550
    
    
    $
    7,453
    
    
    $
    6,183Net earnings per common share:Basic
    
    $
    0.29
    
    
    $
    0.14
    
    
    $
    0.68
    
    
    $
    0.57Diluted
    
    $
    0.28
    
    
    $
    0.14
    
    
    $
    0.67
    
    
    $
    0.56Weighted average shares:Basic
    
    
    11,082
    
    
    
    10,888
    
    
    
    11,023
    
    
    
    10,869Diluted
    
    
    11,271
    
    
    
    11,140
    
    
    
    11,207
    
    
    
    11,090SELECTED FINANCIAL DATA:Capital Expenditures
    
    $
    1,433
    
    
    $
    2,158
    
    
    $
    11,111
    
    
    $
    4,803Depreciation and amortization
    
    $
    3,035
    
    
    $
    1,443
    
    
    $
    8,225
    
    
    $
    4,906




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POWELL INDUSTRIES, INC. & SUBSIDIARIES
 
 CONDENSED CONSOLIDATED BALANCE SHEETS
 June 30,
    
    
    September 30,2007
    
    
    2006(In thousands)
    
    (Unaudited)
    
    
    (As restated)Assets:Current assets
    
    $
    237,916
    
    
    $
    193,500Property, plant and equipment (net)
    
    
    66,337
    
    
    
    60,336Other assets
    
    
    36,531
    
    
    
    38,842Total assets
    
    $
    340,784
    
    
    $
    292,678Liabilities & stockholders equity:Current liabilities
    
    $
    123,938
    
    
    $
    98,612Long-term debt and capital lease obligations,
net of current maturities
    
    
    43,302
    
    
    
    33,886Deferred and other long-term liabilities
    
    
    2,967
    
    
    
    2,971Stockholders equity and minority interest
    
    
    170,577
    
    
    
    157,209Total liabilities and stockholders equity
    
    $
    340,784
    
    
    $
    292,678




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POWELL INDUSTRIES, INC. & SUBSIDIARIES
 
 BUSINESS SEGMENTS
 Three Months Ended
    
    
    Nine Months EndedJune 30, 2007
    
    
    July 31, 2006
    
    
    June 30, 2007
    
    
    July 31, 2006(As restated)
    
    
    
    
    
    
    (As restated)(In thousands)
    
    (Unaudited)
    
    
    (Unaudited)Revenues:Electrical Power Products
    
    $
    143,051
    
    
    $
    96,896
    
    
    $
    396,428
    
    
    $
    265,413Process Control Systems
    
    
    6,080
    
    
    
    7,125
    
    
    
    17,391
    
    
    
    20,852Total revenues
    
    $
    149,131
    
    
    $
    104,021
    
    
    $
    413,819
    
    
    $
    286,265Income before income taxes:Electrical Power Products
    
    $
    4,769
    
    
    $
    2,621
    
    
    $
    11,107
    
    
    $
    9,522Process Control Systems
    
    
    95
    
    
    
    167
    
    
    
    579
    
    
    
    893Total income before income taxes
    
    $
    4,864
    
    
    $
    2,788
    
    
    $
    11,686
    
    
    $
    10,415
 June 30,
    
    
    September 30,2007
    
    
    2006(In thousands)
    
    (Unaudited)Backlog:Electrical Power Products
    
    $
    381,862
    
    
    $
    324,688Process Control Systems
    
    
    29,015
    
    
    
    30,440Total backlog
    
    $
    410,877
    
    
    $
    355,128