Pioneer Power Solutions, Inc. reported unaudited earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported revenue of $28,513,000 against $26,251,000 a year ago. Operating loss was $1,586,000 compared to $1,198,000 a year ago. Loss before taxes was $1,412,000 compared to $2,442,000 a year ago. Net loss was $1,654,000 or $0.19 per basic and diluted share compared to $1,288,000 or $0.18 per basic and diluted share a year ago. Adjusted EBITDA was $2,559,000 compared to $1,854,000 a year ago. Non-GAAP net earnings were $1,842,000 or $0.21 per diluted share compared to $1,335,000 or $0.15 per diluted share a year ago.

For the year, the company reported revenue of $114,402,000 against $106,522,000 a year ago. Operating income was $2,103,000 compared to operating loss of $5,300,000 a year ago. Income before taxes was $572,000 compared to loss of $8,583,000 a year ago. Net loss was $569,000 or $0.07 per basic and diluted share compared to $5,881,000 or $0.76 per basic and diluted share a year ago. Adjusted EBITDA was $8,800,000 compared to $3,839,000 a year ago. Non-GAAP net earnings were $6,336,000 or $0.73 per diluted share compared to $2,764,000 or $0.36 per diluted share a year ago.

The company expects an effective tax rate at 28% for the fiscal year 2017.