Global Power Equipment (Pink Sheets: GLPW) Reports Earnings 3rd and 9th quarters Ended September 30, 2009

Global Power Equipment Group Inc. (Pink Sheets: GLPW) recently published its unaudited financial results for the three and nine months ended September 30, 2009. For the three months ended September 30, 2009, the Company reported revenues of $95.8 million and net income of $1.8 million, or $0.01 per diluted common share. Revenues for the three months ended September 30, 2008 were $129.9 million and a net income of $17.0 million, or $0.12 per diluted common share. For the nine months ended September 30, 2009, the Company reported revenues of $377.6 million and net income of $31.9 million, or $0.23 per diluted share. Revenues for the nine months ended September 30, 2008 were $398.6 million and net income of $24.6 million, which included $25.8 million of reorganization expenses, or $0.19 per diluted share.

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"We are clearly disappointed in the quarterly earnings which were negatively impacted by a significant cost overrun on a contract in our Products Division," stated David Keller, Global Power's President and Chief Executive Officer. "On a positive note, our Services Division completed another solid quarter and increased their backlog by $41.6 million, up 26.2%. In addition, we increased our overall cash position by $14.1 million during the quarter, to a total of $97.7 million. The strength of our balance sheet confers major operating advantages and positions us to consider a broad range of strategic alternatives to create shareholder value."Global Power Equipment Group  will host a conference call on Tuesday, December 1, 2009 at 1:00 PM CT. The numbers to call for this teleconference are: within the United States and Canada (800) 870-4027, outside North America (213) 416-2975. A playback of the call will be available from 4:00 PM CT on December 1, 2009 through midnight CT on December 15, 2009, by calling: within North America (800) 675-9924, outside North America (213) 416-2185. The replay ID code is 12109. Oklahoma based Global Power Equipment Group Inc. is a leading design, engineering and manufacturing firm providing a broad array of equipment and services to the global power infrastructure, energy and process industries. Through its Global Power Services Division, the Company is a leading provider of on-site specialty support and outage management services for commercial nuclear reactors in the United States and provides maintenance services to fossil and hydroelectric power plants and other industrial operations. Through its Global Power Products Division the Company designs, engineers and manufactures a comprehensive portfolio of equipment for gas turbine power plants and power-related equipment for industrial operations, with over 40 years of power generation industry experience. With a strong competitive position in its product lines, the Company benefits from a large installed base of equipment in domestic and international markets. Additional information about Global Power Equipment Group may be found at their website.