MIGL: Merged with Integrated Electrical Services Inc (IESC); At the election of the holder, either 0.3118 shares of IESC common stock or cash consideration of $1.48 subject to the maximum cash amount. Deletion Time: 12:55:44

http://www.otcbb.com/asp/dailylist_detail.asp?d=09/13/2013&mkt_ctg=NON-OTCBB

MISCOR Group Retires All Subordinated Debt

MASSILLON, Ohio, Jan. 7, 2013 /PRNewswire/ -- MISCOR Group, Ltd. (MIGL), a provider of outsourced maintenance and electro-mechanical repair and complementary services for a diverse range of industries, reported today that the Company has retired its subordinated debt and consolidated the Company's remaining debt under a recently announced credit facility with PNC Bank, National Association ("PNC"). This new PNC credit facility includes a revolving line of credit and term loan that may also be used for working capital, capital expenditures and general corporate purposes.

"We are extremely pleased with the new PNC relationship," stated Michael P. Moore, President and CEO of MISCOR Group. "Their desire and willingness to step forward with a comprehensive package speaks to their confidence in MISCOR's business strategy and their commitment to partner with us in expanding our capabilities to better serve customers."

The terms of this new credit facility allow for a two-year $6.5 million secured revolving line of credit with an initial interest rate of LIBOR plus 2.75%. The terms of the new credit facility also provide a five-year $2.5 million secured term loan with an initial interest rate of LIBOR plus 3.00%. In both instances, based on achieving funded debt to EBITDA targets, the Company can reduce the interest rates to as low as LIBOR plus 1.25% and LIBOR plus 1.50%, respectively.

"The new credit agreement with PNC allowed us to pay off all the higher-cost subordinated debt, thus consolidating all of MISCOR's financing with one lender," said Marc Valentin, Chief Accounting Officer of MISCOR Group. "It provides more flexibility at a significantly lower cost, due primarily to lower interest rates, as we have also moved all of our cash management activities to PNC."

"I am extremely proud of our team," said Moore. "We have come through a very difficult economic period, and are benefiting from our hard work. We have greatly improved profitability, margins, cash flow and overall financial stability this past year. Our success in executing on the strategic growth initiatives put in place during 2011 has made this new agreement with PNC possible. We are excited about the opportunities this new financing agreement provides to add strategic capital, improve our existing operations, and execute acquisitions in regions strategic to our key customers."

About MISCOR Group, Ltd.

Massillon, Ohio-based MISCOR Group, Ltd. (MIGL) provides electrical and mechanical solutions to industrial, commercial and institutional customers through two segments: Industrial Services, consisting of the Company's maintenance and repair services to several industries, including electric utilities, wind power, transportation, chemical, oil, pulp and paper, metal manufacturing and forming, and repairing, manufacturing, and remanufacturing industrial lifting magnets for the steel and scrap industries; and Rail Services, consisting of the Company's manufacturing of power assemblies, engine parts, and other components related to large diesel engines. For further information about MISCOR Group, please visit www.MISCOR.com.

About Magnetech

Headquartered in Massillon, Ohio, Magnetech Industrial Services is a wholly owned subsidiary of MISCOR Group, Ltd. (MIGL). The Company specializes in the sale, repair and service of commercial and industrial equipment used in the electric utility, wind power, automotive, pulp and paper, manufacturing, chemical, wastewater treatment, railroad, plastics, metal producing, metal forming and scrap metal industries. Additionally, Magnetech manufactures its own brand of electromagnetic lifting magnets. The Company provides MagneTrac® and Total Motor Management® (TMM) asset management services to help customers reduce the risk of equipment breakdowns while lowering repair and maintenance costs. On-site preventive and predictive maintenance and 24/7 emergency breakdown services are also available.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "estimates," "expects," "intends," "should," "could," "will," or variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements reflect the Company's views, expectations and beliefs at the time such statements were made with respect to such matters, and may cover such items as the Company's future plans, objectives, events, contract pricing and results such as revenues, expenses, income, earnings per share, capital expenditures, operating margins, financial position, expected results of operations and other financial items. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and outcomes to differ materially from those described in the forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Risk Factors") that make the timing, extent, likelihood and degree of occurrence of these matters difficult to predict. Risk Factors include, among others: price of raw materials, ability to win and service competitively priced new contracts in sufficient amounts to operate and expand effectively, employee turnover, ability to compete in highly competitive, geographically diverse marketplaces, ability to complete planned divestitures and varying and sometimes volatile economic conditions. For further discussion of risks and uncertainties, individuals should refer to the Company's SEC filings. MISCOR Group, Ltd. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release is issued. You are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

MISCOR Group Reports New Financing Arrangement with PNC Bank, N.A.

MASSILLON, Ohio, Dec. 26, 2012 /PRNewswire/ -- MISCOR Group, Ltd. (MIGL), a provider of outsourced maintenance and electro-mechanical repair and complementary services for a diverse range of industries, reported today that it has entered into a new credit facility with PNC Bank, National Association ("PNC"), replacing its secured credit agreement with Wells Fargo Bank, N.A. The new PNC credit facility includes a revolving line of credit and term loan that will be used for working capital, capital expenditures, refinancing of existing debt and general corporate purposes.

"We are pleased to begin this relationship with PNC," stated Michael P. Moore, President and CEO of MISCOR Group. "Their desire and willingness to step forward with a comprehensive package speaks to their confidence in MISCOR's business strategy and their commitment to partner with MISCOR in expanding our capabilities to better serve our customers."

The terms of the new credit facility allow for a two-year $6.5 million secured revolving line of credit with an initial interest rate of LIBOR plus 2.75%. The terms of the new credit facility also provide a five-year $2.5 million secured term loan with an initial interest rate of LIBOR plus 3.00%. In both instances, based on achieving targeted funded debt to EBITDA, the Company can reduce the interest rates to as low as LIBOR plus 1.25% and LIBOR plus 1.50%, respectively.

"The new agreement with PNC provides MISCOR Group with the ability to pay off higher priced subordinated debt, thus consolidating all of MISCOR's financing with one lender," said Marc Valentin, Chief Accounting Officer of MISCOR Group. "It provides more flexibility at a significantly lower cost. Additionally, we will be moving all of our cash management activities to PNC. We look forward to working with PNC and their local team."

"I am extremely proud of our team," said Moore. "We have come through a very difficult economic period, and are seeing the fruits of our labor. We have greatly improved profitability, margins, cash flow and overall financial stability. Our success in executing on the strategic growth initiatives put in place in 2011 has made this new agreement with PNC possible. We are excited about the opportunities the agreement provides to add strategic capital, improve our existing operations, and execute acquisitions in regions strategic to our key customers."

About MISCOR Group, Ltd.

Massillon, Ohio-based MISCOR Group, Ltd. (MIGL) provides electrical and mechanical solutions to industrial, commercial and institutional customers through two segments: Industrial Services, consisting of the Company's maintenance and repair services to several industries, including electric utilities, wind power, transportation, chemical, oil, pulp and paper, metal manufacturing and forming, and repairing, manufacturing, and remanufacturing industrial lifting magnets for the steel and scrap industries; and Rail Services, consisting of the Company's manufacturing of power assemblies, engine parts, and other components related to large diesel engines. For further information about MISCOR Group, please visit www.MISCOR.com.

About Magnetech

Headquartered in Massillon, Ohio, Magnetech Industrial Services is a wholly owned subsidiary of MISCOR Group, Ltd. (MIGL). The Company specializes in the sale, repair and service of commercial and industrial equipment used in the electric utility, wind power, automotive, pulp and paper, manufacturing, chemical, wastewater treatment, railroad, plastics, metal producing, metal forming and scrap metal industries. Additionally, Magnetech manufactures its own brand of electromagnetic lifting magnets. The Company provides MagneTrac® and Total Motor Management® (TMM) asset management services to help customers reduce the risk of equipment breakdowns while lowering repair and maintenance costs. On-site preventive and predictive maintenance and 24/7 emergency breakdown services are also available.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "estimates," "expects," "intends," "should," "could," "will," or variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements reflect the Company's views, expectations and beliefs at the time such statements were made with respect to such matters, and may cover such items as the Company's future plans, objectives, events, contract pricing and results such as revenues, expenses, income, earnings per share, capital expenditures, operating margins, financial position, expected results of operations and other financial items. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and outcomes to differ materially from those described in the forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Risk Factors") that make the timing, extent, likelihood and degree of occurrence of these matters difficult to predict. Risk Factors include, among others: price of raw materials, ability to win and service competitively priced new contracts in sufficient amounts to operate and expand effectively, employee turnover, ability to compete in highly competitive, geographically diverse marketplaces, ability to complete planned divestitures and varying and sometimes volatile economic conditions. For further discussion of risks and uncertainties, individuals should refer to the Company's SEC filings. MISCOR Group, Ltd. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release is issued. You are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

MIGL just updated their agreement with their bank. The update provides for lower rates which should increase their earnings by $0.003/share/year.

It also increases the limit on capital expenditures. Both items show the bank's confidence in MIGL.

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=8942476-957-6310&type=sect&TabIndex=2&companyid=641067&ppu=%252fdefault.aspx%253fcik%253d1295503

Hmmmm. There is a big 50K share bid at $1.15 for MIGL.

MISCOR Group Announces Huntington Service Center Open House

MASSILLON, Ohio, Nov. 20, 2012 /PRNewswire/ -- Magnetech Industrial Services, Inc. (Magnetech), a wholly owned subsidiary of MISCOR Group, Ltd. (MIGL), and leader in the repair and maintenance of commercial and industrial electro-mechanical equipment, today announced the official opening of its re-located Huntington, W.Va. service center. A ribbon cutting ceremony held Nov. 9 was well attended by state and local government officials, MISCOR corporate management, customers, vendors, employees and their families, and neighbors. The new facility, compared to the former facility, is equipped with increased crane capacity and improved electrical testing capabilities for up to 4,160-volt motors, allowing for additional production capabilities and improvements in workflow to meet increased growth and demand for services.

The state-of-the-art service center specializes in the repair of locomotive rotating components for domestic and international class-I and light railroads, as well as electric motors and generators for various industries, including petrochemical, steel, plastic, paper, utilities and automotive. The new facility has a footprint of 42,500 square feet, a more than 50 percent increase from the previous location, specifically designed to improve work process efficiency and capacity.

"We are very excited to officially open the new Huntington service center," remarked Michael P. Moore, president and CEO of MISCOR Group. "This relocation plays a pivotal role in our ability to invest in growth initiatives, while continuing to strengthen our commitment of quality service to our regional customers. We are proud to make this investment in Magnetech's future so that we can continue to be part of our customers' futures."

About MISCOR Group, Ltd.
Massillon, Ohio-based MISCOR Group, Ltd. (MIGL.PK) provides electrical and mechanical solutions to industrial, commercial and institutional customers through two segments: Industrial Services, consisting of the Company's maintenance and repair services to several industries, including electric utilities, wind power, transportation, chemical, oil, pulp and paper, metal manufacturing and forming, and repairing, manufacturing, and remanufacturing industrial lifting magnets for the steel and scrap industries; and Rail Services, consisting of the Company's manufacturing of power assemblies, engine parts, and other components related to large diesel engines. For further information about MISCOR Group, please visit www.MISCOR.com.

About Magnetech
Headquartered in Massillon, Ohio, Magnetech Industrial Services is a wholly owned subsidiary of MISCOR Group, Ltd. (MIGL.PK). The Company specializes in the sale, repair and service of commercial and industrial equipment used in the electric utility, wind power, automotive, pulp and paper, manufacturing, chemical, wastewater treatment, railroad, plastics, metal producing, metal forming and scrap metal industries. Additionally, Magnetech manufactures its own brand of electromagnetic lifting magnets. The Company provides MagneTrac® and Total Motor Management® (TMM) asset management services to help customers reduce the risk of equipment breakdowns while lowering repair and maintenance costs. On-site preventive and predictive maintenance and 24/7 emergency breakdown services are also available.

Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "estimates," "expects," "intends," "should," "could," "will," or variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements reflect the Company's views, expectations and beliefs at the time such statements were made with respect to such matters, and may cover such items as the Company's future plans, objectives, events, contract pricing and results such as revenues, expenses, income, earnings per share, capital expenditures, operating margins, financial position, expected results of operations and other financial items. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and outcomes to differ materially from those described in the forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Risk Factors") that make the timing, extent, likelihood and degree of occurrence of these matters difficult to predict. Risk Factors include, among others: price of raw materials, ability to win and service competitively priced new contracts in sufficient amounts to operate and expand effectively, employee turnover, ability to compete in highly competitive, geographically diverse marketplaces, ability to complete planned divestitures and varying and sometimes volatile economic conditions. For further discussion of risks and uncertainties, individuals should refer to the Company's SEC filings. MISCOR Group, Ltd. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release is issued. You are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

MISCOR Group Reports Strong Results and Continued Profitability for Q3 2012
Amounts in 000's

MASSILLON, Ohio, Nov. 12, 2012 /PRNewswire/ -- MISCOR Group, Ltd. (MIGL), a provider of electro-mechanical repair and complementary services to a broad range of industries, today reported a 113.7% increase in net income for the three months ending September 30, 2012, compared to the prior-year period. The increase in net income is a direct result of improved operating results in the Industrial Services and Rail Services segments.

"We are pleased to report continued revenue and earnings growth in the third quarter of 2012," stated Michael P. Moore, President and CEO of MISCOR Group. "The results this past year reflect our success in executing on the strategic growth initiatives put in place during 2011."

For the three months ended September 30, 2012, the Company reported a $511, or 4.5%, increase in net revenues, to $11,822, compared to net revenues of $11,311 for the same period in 2011, attributed to strong demand for Rail Services segment. Net income for the quarter totaled $750, compared to $351 for the third quarter of 2011, an increase of $399, or 113.7%, due primarily to improved operating margins and reduced interest expense. Correspondingly, basic and fully diluted earnings per share increased to $0.06 per share, as compared to $0.03 per basic and fully diluted share for the same period in 2011. EBITDA during the quarter increased by $356 to $1,366, from $1,010 for the same period in 2011.

For the nine months ended September 30, 2012, the Company reported a $3,096, or 9.0%, increase in net revenues, to $37,562, compared to net revenues of $34,466 for the same period in 2011. Year-to-date net income totaled $2,319, compared to $1,073 for the third quarter of 2011, an increase of $1,246, or 116.1%, due primarily to improved operating margins and reduced interest expense. Correspondingly, fully diluted earnings per share increased to $0.19 per share, as compared to $0.09 per fully diluted share for the same period in 2011. EBITDA during the nine months ended September 30, 2012 increased by $1,185 to $4,159, from $2,974 for the same period in 2011. For additional financial information, the reader is strongly encouraged to review the Company's most recent Form 10-Q filed with the Security and Exchange Commission on November 9, 2012.

"I am extremely proud of the results our team achieved this quarter. Our superior quality and persistent margin focus have allowed us to more than double net income for the quarter, and also increase our operating cash flows by 83% over last year," Moore continued. "Our value proposition remains steadfast, providing superior quality through unmatched experience, quality and innovation. We remain focused on further profit improvements, while solidifying our position as a leading provider of industrial and rail services in 2013."

About MISCOR Group, Ltd.
Massillon, Ohio-based MISCOR Group, Ltd. (MIGL) provides electrical and mechanical solutions to industrial, commercial and institutional customers through two segments: Industrial Services, consisting of the Company's maintenance and repair services to several industries, including electric utilities, wind power, transportation, chemical, oil, pulp and paper, metal manufacturing and forming, and repairing, manufacturing, and remanufacturing industrial lifting magnets for the steel and scrap industries; and Rail Services, consisting of the Company's manufacturing of power assemblies, engine parts, and other components related to large diesel engines.

Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "estimates," "expects," "intends," "should," "could," "will," or variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements reflect the Company's views, expectations and beliefs at the time such statements were made with respect to such matters, and may cover such items as the Company's future plans, objectives, events, contract pricing and results such as revenues, expenses, income, earnings per share, capital expenditures, operating margins, financial position, expected results of operations and other financial items. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and outcomes to differ materially from those described in the forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Risk Factors") that make the timing, extent, likelihood and degree of occurrence of these matters difficult to predict. Risk Factors include, among others: price of raw materials, ability to win and service competitively priced new contracts in sufficient amounts to operate and expand effectively, employee turnover, ability to compete in highly competitive, geographically diverse marketplaces, ability to complete planned divestitures and varying and sometimes volatile economic conditions. For further discussion of risks and uncertainties, individuals should refer to the Company's SEC filings. MISCOR Group, Ltd. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release is issued. You are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

Mike's note: See the link for financial tables:
http://finance.yahoo.com/news/miscor-group-reports-strong-results-154600016.html


(1) EBITDA represents earnings before interest expense, income taxes, depreciation and amortization. Our management believes EBITDA is useful in evaluating our operating performance compared to that of other companies in our industry because the calculation of EBITDA generally eliminates the effects of financing and income taxes and the accounting effects of capital spending and acquisitions. We believe EBITDA is useful to investors to assist them in getting a more accurate picture of our results from operations.

However, EBITDA is not a recognized measurement under GAAP and when analyzing our operating performance, readers should use EBITDA in addition to, and not as an alternative for, net income as determined in accordance with GAAP. Because not all companies use identical calculations, our presentation of EBITDA may not be comparable to similarly titled measures of other companies. Furthermore, EBITDA is not intended to be a measure of free cash flow for our management's discretionary use, as it does not consider certain cash requirements such as tax and debt service payments. The amounts shown for EBITDA also differ from the amounts calculated under similarly titled definitions in our debt instruments, which are further adjusted to reflect certain other cash and non-cash charges and are used to determine compliance with financial covenants and our ability to engage in certain activities, such as incurring additional debt and making certain restricted payments.

I forgot to post here that the 10-Q is out. They made $0.062/share this quarter on revenue of $11.8M. I'm guessing we will get a PR on Monday.

MISCOR Group Announces Authorized Service Agreement with TMEIC

MASSILLON, Ohio, Aug. 8, 2012 /PRNewswire/ -- MISCOR Group, Ltd., (MIGL) today announced the authorization of its wholly owned subsidiary Magnetech Industrial Services, Inc. as the exclusive service provider for Toshiba-Mitsubishi-Electric Industrial Systems (TMEIC). As the licensed service agent in the U.S. and Canada, Magnetech's Massillon, Ohio service center is authorized to provide repair and maintenance services for TMEIC motors.

The agreement grants Magnetech the exclusive right to provide warranty and non-warranty services for TMEIC induction and synchronous motors of IEC frame size 250 and larger, including troubleshooting, maintenance, repair, and overhaul.

Magnetech's Massillon service center is ISO 9001:2008 certified and provides a strong mix of electro-mechanical trade qualifications, and depth of experience with medium and high voltage large rotating equipment. Over the past year, the facility has undergone a rigorous selection process and was found superior to other motor repair companies in North America.

"In an evaluation that took well over a year, TMEIC closely examined our shop capacity, machine shop and fabrication capabilities, employee experience and training, repair practices, quality management system, and warranty rate, which is well below one percent. The audit team found Magnetech surpassed all of the other motor repair shops that they reviewed," said Michael P. Moore, President and CEO of MISCOR Group. "TMEIC and its customers expect superior quality assurance and quality control systems from an authorized service shop. We are proud to have been chosen as their service agent."

About MISCOR Group, Ltd.

Massillon, Ohio-based MISCOR Group, Ltd. (MIGL) provides electrical and mechanical solutions to industrial, commercial and institutional customers through two segments: Industrial Services, consisting of the Company's maintenance and repair services to several industries, including electric utilities, wind power, transportation, chemical, oil, pulp and paper, metal manufacturing and forming, and repairing, manufacturing, and remanufacturing industrial lifting magnets for the steel and scrap industries; and Rail Services, consisting of the Company's manufacturing of power assemblies, engine parts, and other components related to large diesel engines.

About TMEIC

Headquartered in Tokyo, Japan, TMEIC was formed in 2003 from the merger of the industrial systems departments of Toshiba Corporation and Mitsubishi Electric Corporation. TMEIC manufactures and sells variable frequency drives, motors, and advanced automation systems for a range of industrial applications. The company has major operations in Japan, China, Singapore, India, the United Kingdom, Germany, Italy, and the United States.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "estimates," "expects," "intends," "should," "could," "will," or variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements reflect the Company's views, expectations and beliefs at the time such statements were made with respect to such matters, and may cover such items as the Company's future plans, objectives, events, contract pricing and results such as revenues, expenses, income, earnings per share, capital expenditures, operating margins, financial position, expected results of operations and other financial items. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and outcomes to differ materially from those described in the forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Risk Factors") that make the timing, extent, likelihood and degree of occurrence of these matters difficult to predict. Risk Factors include, among others: price of raw materials, ability to win and service competitively priced new contracts in sufficient amounts to operate and expand effectively, employee turnover, ability to compete in highly competitive, geographically diverse marketplaces, ability to complete planned divestitures and varying and sometimes volatile economic conditions. For further discussion of risks and uncertainties, individuals should refer to the Company's SEC filings. MISCOR Group, Ltd. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release is issued. You are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

MISCOR Group Reports 117% Increase in Profits for First Half 2012 Results
Amounts in 000's

MASSILLON, Ohio, Aug. 6, 2012 /PRNewswire/ -- MISCOR Group, Ltd. (MIGL), a provider of electro-mechanical repair and complementary services to a broad range of industries, today reported a 117% increase in net income for the six months ending July 1, 2012 compared to the prior-year period. This increase in net income is primarily a result of improved sales, gross margins and reduced interest expense.

"We are pleased to report continued earnings growth for the first half of 2012," stated Michael P. Moore, President and CEO of MISCOR Group. "The results in the first half of 2012 reinforce our long-term growth initiatives and carry on the momentum generated by significant restructuring efforts made in 2011."

For the six months ended July 1, 2012, total revenues increased by 11.2%, or $2,584 to $25,740 compared to the same period in 2011. Net income for the six months ended 2012 was $1,569, compared to $721 for the six months ended 2011, reflecting an increase of $848, or 117.6%. EBITDA increased by $805 in the first half of 2012 to $2,793 from $1,988 for the same period in 2011.

For the three months ended July 1, 2012, the Company reported a 9.4%, or $1,143 increase in net revenues to $13,262, compared to net revenues of $12,119 for the same period in 2011, primarily due to increased demand for products and services. Net income for the quarter was $754 compared to $501 for the second quarter of 2011, an increase of $253, or 50.5%. Correspondingly, basic and fully diluted earnings per share increased to $0.06 per share as compared to $0.04 per basic and fully diluted share for the same period in 2011. For more details, the reader is strongly encouraged to review the Company's most recent Form 10-Q filed with the Security and Exchange Commission on August 6, 2012.

"We remain focused on offering our customers unique services within our industrial and rail markets," Moore continued. "Our value proposition remains steadfast, providing superior quality through unmatched experience, quality and innovation. We will continue to seek profit improvement and further solidify our position as a leading provider of industrial and rail services as we enter the second half of 2012."

About MISCOR Group, Ltd.
Massillon, Ohio-based MISCOR Group, Ltd. (MIGL) provides electrical and mechanical solutions to industrial, commercial and institutional customers through two segments: Industrial Services, consisting of the Company's maintenance and repair services to several industries, including electric utilities, wind power, transportation, chemical, oil, pulp and paper, metal manufacturing and forming, and repairing, manufacturing, and remanufacturing industrial lifting magnets for the steel and scrap industries; and Rail Services, consisting of the Company's manufacturing of power assemblies, engine parts, and other components related to large diesel engines.

Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "estimates," "expects," "intends," "should," "could," "will," or variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements reflect the Company's views, expectations and beliefs at the time such statements were made with respect to such matters, and may cover such items as the Company's future plans, objectives, events, contract pricing and results such as revenues, expenses, income, earnings per share, capital expenditures, operating margins, financial position, expected results of operations and other financial items. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and outcomes to differ materially from those described in the forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Risk Factors") that make the timing, extent, likelihood and degree of occurrence of these matters difficult to predict. Risk Factors include, among others: price of raw materials, ability to win and service competitively priced new contracts in sufficient amounts to operate and expand effectively, employee turnover, ability to compete in highly competitive, geographically diverse marketplaces, ability to complete planned divestitures and varying and sometimes volatile economic conditions. For further discussion of risks and uncertainties, individuals should refer to the Company's SEC filings. MISCOR Group, Ltd. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release is issued. You are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

See the PR for the financial tables:
http://finance.yahoo.com/news/miscor-group-reports-117-increase-161500733.html


(1) EBITDA represents earnings before interest expense, income taxes, depreciation and amortization. Our management believes EBITDA is useful in evaluating our operating performance compared to that of other companies in our industry because the calculation of EBITDA generally eliminates the effects of financing and income taxes and the accounting effects of capital spending and acquisitions. We believe EBITDA is useful to investors to assist them in getting a more accurate picture of our results from operations.

However, EBITDA is not a recognized measurement under GAAP and when analyzing our operating performance, readers should use EBITDA in addition to, and not as an alternative for, net income as determined in accordance with GAAP. Because not all companies use identical calculations, our presentation of EBITDA may not be comparable to similarly titled measures of other companies. Furthermore, EBITDA is not intended to be a measure of free cash flow for our management's discretionary use, as it does not consider certain cash requirements such as tax and debt service payments. The amounts shown for EBITDA also differ from the amounts calculated under similarly titled definitions in our debt instruments, which are further adjusted to reflect certain other cash and non-cash charges and are used to determine compliance with financial covenants and our ability to engage in certain activities, such as incurring additional debt and making certain restricted payments.

MIGL prints $1.30!

Now $1.12 X $2.19; spread getting razor thin

That is tight!

MIGL spread narrowing, now $1.10 X $4.74

MIGL prints $0.95.

The MIGL spread is $0.61 X $5.00.

MIGL is a turn around situation with awesome Q1'12 earnings of $0.07/share! Their industrial services provides maintenance and repair services to several industries. Their rail services manufactures and remanufactures various parts for locomotive diesel engines. Here are some more reasons why I like MIGL:

1. MIGL reported $0.07/share in earnings for Q1'12. That is awesome for a stock that last traded at $0.75.

2. They have been improving their margins as can be seen from the improvement in Q1 results. Based upon their PRs, I think there is further room for improvement.

3. They are expanding capacity which I think indicates that revenue should continue to improve.

4. MIGL is trading at less than their book value of $0.96.

MISCOR Group Announces Planned Relocation of Huntington Service Center

MASSILLON, Ohio, April 5, 2012 /PRNewswire/ -- Magnetech Industrial Services, Inc. (Magnetech), a wholly owned subsidiary of MISCOR Group, Ltd. (MIGL.PK), and leader in the repair and maintenance of commercial and industrial electro-mechanical equipment, today announced plans for relocation of its Huntington, W.Va. service center. The new facility, also located within Huntington, will be equipped with increased crane capacity and improved electrical testing capabilities, allowing for additional production capacity and overall improvement in workflow. The new facility is expected to be completed and in operation by September of this year.

Magnetech's Huntington service center specializes in the repair of locomotive rotating components for domestic and international class-I and light railroads, as well as electric motors and generators for various industries, including petrochemical, steel, plastic, utilities and automotive. In May 2009, this service center achieved Association of American Railroads M-1003 quality certification. MISCOR Group's investment in this new facility will enhance its ability to support the needs of customers and improve the quality and reliability of service. Most notably, the working space footprint will increase from 28,000 square feet in the current facility to 42,500 square feet, allowing for a complete redesign of work processes to improve efficiency.

Major improvements to electrical testing capabilities will include installation of a 4,160-volt and 120-amp test center, nearly doubling the testing capabilities as compared to the current facility. In addition, substantial improvements in the overhead crane systems will be made with the installation of two new, top-running, double-girder crane systems, each with 64-foot spans. The new facility will also have twelve base-mounted jib cranes with up to 12-foot beams and two base-mounted transfer cranes, providing the latest in safety and efficiency ratings.

"The Huntington service center has a long history of providing exceptional service to both the railroad and industrial markets. This new expansion will allow us to meet and exceed customer agreements and expectations," remarked Michael P. Moore, President and CEO of MISCOR Group. "This relocation plays a pivotal role in our ability to invest in growth initiatives, while continuing to strengthen our commitment of quality service to our customers. We are proud to make this investment in Magnetech's future so that we can be part of our customers' futures."

About MISCOR Group, Ltd.
Massillon, Ohio-based MISCOR Group, Ltd. (MIGL.PK) provides electrical and mechanical solutions to industrial, commercial and institutional customers through two segments: Industrial Services, consisting of the Company's maintenance and repair services to several industries, including electric utilities, wind power, transportation, chemical, oil, pulp and paper, metal manufacturing and forming, and repairing, manufacturing, and remanufacturing industrial lifting magnets for the steel and scrap industries; and Rail Services, consisting of the Company's manufacturing of power assemblies, engine parts, and other components related to large diesel engines. For further information about MISCOR Group, please visit www.MISCOR.com.

About Magnetech
Headquartered in Massillon, Ohio, Magnetech Industrial Services is a wholly owned subsidiary of MISCOR Group, Ltd. (MIGL.PK). The Company specializes in the sale, repair and service of commercial and industrial equipment used in the electric utility, wind power, automotive, pulp and paper, manufacturing, chemical, wastewater treatment, railroad, plastics, metal producing, metal forming and scrap metal industries. Additionally, Magnetech manufactures its own brand of electromagnetic lifting magnets. The Company provides MagneTrac® and Total Motor Management® (TMM) asset management services to help customers reduce the risk of equipment breakdowns while lowering repair and maintenance costs. On-site preventive and predictive maintenance and 24/7 emergency breakdown services are also available.

Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "estimates," "expects," "intends," "should," "could," "will," or variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements reflect the Company's views, expectations and beliefs at the time such statements were made with respect to such matters, and may cover such items as the Company's future plans, objectives, events, contract pricing and results such as revenues, expenses, income, earnings per share, capital expenditures, operating margins, financial position, expected results of operations and other financial items. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and outcomes to differ materially from those described in the forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Risk Factors") that make the timing, extent, likelihood and degree of occurrence of these matters difficult to predict. Risk Factors include, among others: price of raw materials, ability to win and service competitively priced new contracts in sufficient amounts to operate and expand effectively, employee turnover, ability to compete in highly competitive, geographically diverse marketplaces, ability to complete planned divestitures and varying and sometimes volatile economic conditions. For further discussion of risks and uncertainties, individuals should refer to the Company's SEC filings. MISCOR Group, Ltd. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release is issued. You are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

MISCOR Group 1Q 2012 Net Income Climbs 270%
Amounts in 000's

MASSILLON, Ohio, May 2, 2012 /PRNewswire/ -- MISCOR Group, Ltd. (MIGL.PK), a provider of electro-mechanical repair and complementary services to a broad range of industries, today reported a 270 percent increase in net income for the three months ending April 1, 2012 compared to the three month period ending April 3, 2011. This increase in net income is a continuation of the improved results reported by MISCOR Group for fiscal year 2011.

"We are pleased to report significant earnings growth for the 2012 first quarter as we carry forward the momentum of profitability experienced in 2011," stated Michael P. Moore, President and CEO of MISCOR Group. "We continue to benefit from the previously completed restructuring, and have maintained the spirit of continuous improvement that the restructuring cultivated."

For the three months ending April 1, 2012, the Company reported a $1,441 or 13.1% increase in net revenues to $12,478, compared to net revenues of $11,037 for the same period in 2011, primarily due to increased demand for their railroad products and services. Net income for the three months ending April 1, 2012 was $815 compared to $220 for the three months ending April 3, 2011, an increase of 270 percent. This increase is due to improved gross margins, reduced general and administrative expenses, and reduced interest expense. Correspondingly, basic and fully diluted earnings per share increased to $0.07 per share for the three month period ending April 1, 2012 compared to $0.02 per share for the same period ending April 3, 2011. For more details, the reader is strongly encouraged to review the Company's most recent Form 10-Q filed with the Security and Exchange Commission on May 2, 2012.

"We remain focused on nurturing mutually beneficial partnerships with our customers that extend equipment life, improve equipment performance, and minimize down time with the repairs, remanufacturing and manufacturing services and products that we offer," Moore continued. "We offer customers a unique bundle of services within our industrial services markets and also provide superior quality diesel engine power assemblies and components to the markets we serve."

About MISCOR Group, Ltd.
Massillon, Ohio-based MISCOR Group, Ltd. (MIGL.PK) provides electrical and mechanical solutions to industrial, commercial and institutional customers through two segments: Industrial Services, consisting of the Company's maintenance and repair services to several industries, including electric utilities, wind power, transportation, chemical, oil, pulp and paper, metal manufacturing and forming, and repairing, manufacturing, and remanufacturing industrial lifting magnets for the steel and scrap industries; and Rail Services, consisting of the Company's manufacturing of power assemblies, engine parts, and other components related to large diesel engines.

Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "estimates," "expects," "intends," "should," "could," "will," or variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements reflect the Company's views, expectations and beliefs at the time such statements were made with respect to such matters, and may cover such items as the Company's future plans, objectives, events, contract pricing and results such as revenues, expenses, income, earnings per share, capital expenditures, operating margins, financial position, expected results of operations and other financial items. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and outcomes to differ materially from those described in the forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Risk Factors") that make the timing, extent, likelihood and degree of occurrence of these matters difficult to predict. Risk Factors include, among others: price of raw materials, ability to win and service competitively priced new contracts in sufficient amounts to operate and expand effectively, employee turnover, ability to compete in highly competitive, geographically diverse marketplaces, ability to complete planned divestitures and varying and sometimes volatile economic conditions. For further discussion of risks and uncertainties, individuals should refer to the Company's SEC filings. MISCOR Group, Ltd. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release is issued. You are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

I picked up some shares of MIGL today. I'll post more later.

MISCOR Group Announces Sale of AMP Montreal Business Unit As Initial Step in Overall Restructuring Plan

Press Release Source: MISCOR Group, Ltd. On Wednesday December 23, 2009, 2:35 pm EST

SOUTH BEND, Ind., Dec. 23 /PRNewswire-FirstCall/ -- Industrial services provider MISCOR Group, Ltd. (OTC Bulletin Board: MIGL) today announced the initiation of a comprehensive restructuring plan designed to refocus the Company on its core industrial services business. The restructuring plan includes a number of organizational changes and the sale of non-core businesses based on the Company's refocused vision.



On Monday, December 21, MISCOR completed the sale of its AMP-Montreal business unit, one of its businesses in the Rail Service Segment. AMP was sold to Novatech, Inc. of Montreal for $1.5 million, including $1.1 million in cash and a note for $400,000 to be paid over three years. The sale follows MISCOR's recent announcement that it would pursue divestures of certain businesses that did not align with its long-term vision.



The restructuring plan also calls for MISCOR to divest its remaining subsidiaries in the Rail Services segment, as well as its Construction Services subsidiaries, allowing MISCOR to concentrate on industrial and utility services as the refocused vision for the company.



"We see long-term growth opportunities in the industrial services segment, including the wind and utility markets, as well as the heavy industrial market we have traditionally served. The restructuring plan calls for the Company to focus its energy and resources in these core markets," said John A. Martell, President and CEO of MISCOR Group. "Macro-economic conditions have created many challenges for industrial service companies in the last year, but we remain convinced that those who survive will be faced with tremendous growth opportunities. We are positioning MISCOR to participate in the expected turnaround in industrial services by reducing our cost structure, outsourcing non-core functions, and realigning our management team."



As part of its current restructuring, MISCOR is reorganizing and reducing the cost of its management structure. James Lewis, Vice President, Secretary and General Counsel, has resigned his role as Vice President of MISCOR but continues to serve the Company on a consulting basis as outside General Counsel and Secretary. Bernie DeWees has stepped down as President of Magnetech Industrial Services but continues to serve Magnetech as a consultant to the Industrial Services leadership team. Edward Matheny, Vice President, Sales and Marketing of Magnetech Industrial Services, has been elevated to Executive Vice President and will oversee Magnetech operations while continuing to lead Magnetech's sales and marketing team.



Martell continued: "We are excited to have Ed Matheny take on a greater role for Magnetech. He will continue to work closely with Bernie DeWees, but this promotion will engage Ed's dynamic management skills with the operating side of our industrial services business. I will continue to provide oversight and strategic direction to the industrial service business."



The Company has retained Western Reserve Partners LLC, based in Cleveland, to help with the divestiture of its remaining Rail Services subsidiaries. The Company is also in discussions regarding the potential sale of MISCOR's Construction Services subsidiaries to Mr. Martell.



Martell concluded: "We are pleased with the progress we've made to ensure that our Company remains positioned and appropriately structured to achieve sustainable long-term growth and profitability. MISCOR began as an industrial services company, and it is time to return to our core business. We expect that our rail and construction businesses will enjoy greater success as independent companies after their divestiture, without the capital constraints caused by being part of MISCOR in this difficult economic period. The proceeds from these transactions will pay down part of the Company's debt, with any remaining proceeds expected to provide working capital to help fuel the growth we anticipate within Magnetech Industrial Services in the coming year."



About MISCOR



South Bend, Ind.-based MISCOR Group, Ltd. (OTC Bulletin Board: MIGL) currently provides electrical and mechanical solutions to industrial, commercial and institutional customers through three segments: Industrial Services, consisting of the Company's maintenance and repair services to several industries including electric motor and wind power and repairing, manufacturing, and remanufacturing industrial lifting magnets for the steel and scrap industries, Construction and Engineering Services, consisting of MISCOR's electrical and mechanical contracting services, mainly to industrial, commercial, and institutional customers, and Rail services, consisting of the Company's manufacturing and rebuilding of power assemblies, engine parts, and other components related to large diesel engines and its locomotive maintenance, remanufacturing, and repair services for the rail industry.

MISCOR Group Reports First Quarter Results
May 15, 2009 6:13:00 PM


Email Story Discuss on ZenoBank

View Additional ProfilesSOUTH BEND, Ind., May 15 /PRNewswire-FirstCall/ -- Industrial services provider MISCOR Group, Ltd. (OTC Bulletin Board: MIGL) reported its operating results for first quarter ended April 5, 2009.


MISCOR, a supplier of mechanical and electrical industrial products and services, reported total revenues of $23.4 million in the first quarter of 2009, compared with total revenues of $29.7 million in the same quarter of 2008, a decrease of $6.3 million. The Company reported a net loss of $3.7 million, or $0.32 per diluted share, for the 2009 first quarter, versus net income of $0.5 million, or $0.04 per diluted share, for last year's first quarter.


MISCOR attributed the decline in net sales and earnings to the ongoing challenges in global economic conditions.


"We were not immune from the economic and consumer pullback and resulting slowdown in manufacturing and industrial production that is hitting every segment of the market. However, we remain diligent in working to grow our market share to position ourselves for the inevitable rebound and we're seeing success with new order activity, particularly in our wind services operations and electrical contracting," said John Martell, president and CEO of MISCOR."


As a result of the challenging economic environment, the Company has implemented several strategic changes within their operations. Some of these items include a 29% reduction in work force, reduced work weeks in certain locations and some temporary plant shut downs in the HK Engine Component business. In addition, MISCOR consolidated production within the industrial services segment and moved those operations to other existing facilities. The Company continues to evaluate additional production consolidations to enhance operational efficiency.


Total gross profit for the first quarter of 2009 was $1.7 million or 7 percent of total revenues compared to gross profit of $4.7 million or 16 percent of total revenues in the same period of 2008. The company attributed the decline to decreased consolidated revenues and increased cost levels from unabsorbed overhead costs and cost overruns on a few of the company's electrical contracts.


As of April 5, 2009, MISCOR had approximately $11.7 million of working capital, reflecting a decrease of approximately $3.4 million versus the prior year. The decline was primarily attributed to decreased accounts receivable, which resulted in reduced availability of the company's revolving credit line.


Segment Results:


In the fourth quarter of 2008, MISCOR realigned its financial reporting into three segments to bring additional clarity to its results:


-- Industrial services - consisting of the Company's maintenance and
repair services to several industries including electric motor and wind
power and repairing, manufacturing, and remanufacturing industrial
lifting magnets for the steel and scrap industries
-- Construction and engineering services - consisting of the
Company's electrical and mechanical contracting services, mainly to
industrial, commercial and institutional customers

-- Rail services - consisting of the Company's manufacturing and
rebuilding of power assemblies, engine parts and other components
related to large diesel engines, and its locomotive maintenance,
remanufacturing and repair services for the rail industry.



MISCOR's decrease in consolidated revenues in the first quarter of 2009 resulted from declines in industrial services segment revenues of $5.1 million, declines in construction and engineering services revenues of $0.7 million and declines in rail services revenue of $0.4 million. All three segments were adversely affected by the economic recession and reductions in demand among the manufacturing, transportation and construction industries, as well as by the liquidity pressures leading to production slowdowns.


In December of 2008, MISCOR launched a Traffic and Telecommunication Division within Martell Electric and the construction and engineering services segment. Since operations began, the division secured $11 million in new contracts and continues to capture additional revenue surrounding a variety of highway specialty projects. The largest contract secured is a $6.7 million Intelligent Highway System project for the Michigan Department of Transportation around the City of Grand Rapids.


Within the industrial services segment, Magnetech continues to expand and develop its power services group with new relationships for in-shop and field service work for oil filled transformers which is a new area of focus that started in the third quarter of 2008. Additionally, the Company has increased operations for the wind power industry particularly with the addition of the service center by obtaining new contracts in the service and repair of larger turbine work.


Martell concluded: "Our strategy continues to be based on better aligning our core assets with the growth opportunities in wind power, transformer, traffic and telecommunications expected to result from governmental stimulus and energy independence initiatives. We continue to see 2009 as a year of intense focus and execution, and will run our business accordingly."


About MISCOR

South Bend, Ind.-based MISCOR Group, Ltd. (OTC BB: MIGL) provides electrical and mechanical solutions to industrial, commercial and institutional customers through three segments: Industrial Services, consisting of the Company's maintenance and repair services to several industries including electric motor and wind power and repairing, manufacturing, and remanufacturing industrial lifting magnets for the steel and scrap industries, Construction and Engineering Services, consisting of MISCOR's electrical and mechanical contracting services, mainly to industrial, commercial, and institutional customers, and Rail services, consisting of the Company's manufacturing and rebuilding of power assemblies, engine parts, and other components related to large diesel engines and its locomotive maintenance, remanufacturing, and repair services for the rail industry.


In 2007, MISCOR entered the wind power industry through its acquisition of 3-D Service, Ltd., providing both onsite and in-shop maintenance and repair services for wind farms. MISCOR was ranked on the Inc. 500 in 2004 and 2005 and operates in 15 locations in the U.S. and Canada.


Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "estimates," "expects," "intends," "should," "could," "will," or variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements reflect the Company's views, expectations and beliefs at the time such statements were made with respect to such matters, and may cover such items as the Company's future plans, objectives, events, contract pricing and results such as revenues, expenses, income, earnings per share, capital expenditures, operating margins, financial position, expected results of operations and other financial items. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and outcomes to differ materially from those described in the forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Risk Factors") that make the timing, extent, likelihood and degree of occurrence of these matters difficult to predict. Risk Factors include, among others: price of raw materials, ability to win and service competitively priced new contracts in sufficient amounts to operate and expand effectively, employee turnover, ability to compete in highly competitive, geographically diverse marketplaces, and varying and sometimes volatile economic conditions. For further discussion of risks and uncertainties, individuals should refer to the Company's SEC filings. MISCOR Group, Ltd. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release is issued. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.



SOURCE MISCOR Group, Ltd.



----------------------------------------------
Karen Keller
kkeller@lambert-edwards.com
or Jeff Lambert
both of Lambert
Edwards & Associates
Inc.
+1-616-233-0500
for MISCOR Group
Ltd.

MISCOR Group Reports Significant Net Income, Sales Growth in Third Quarter





SOUTH BEND, Ind., Nov. 12 /PRNewswire-FirstCall/ -- Industrial services provider MISCOR Group, Ltd. (OTC:MIGL) (BULLETIN BOARD: MIGL) reported sharply higher net income on a 78 percent increase in sales in the third quarter ended September 30, 2008. MISCOR's positive performance for the quarter was driven by strong service-related revenue and product sales, key acquisitions and new facility growth, as well as ongoing expense management.

MISCOR nearly doubled its top line in the third quarter, reporting net sales of $31.5 million, compared to net sales of $17.7 million in the third quarter of 2007. Net income increased more than 600 percent to $471,000, or $0.04 per diluted share, in the third quarter of 2008, compared to net income of $64,000, or $0.01 per diluted share, in the 2007 comparable period. In addition, operating income more than doubled to $679,000 in the third quarter of 2008.

The strong sales gains in the quarter were driven primarily by a 118 percent increase in service revenues to $25.3 million, compared to $11.6 million in the year-ago period. The Company noted the gains in service revenues were a result of new contracts from its expanding international customer base and increasing industry recognition for its service expertise and performance. During the third quarter, MISCOR began operating its AMP Rail Services Canada service center, located in Montreal, which provided the Company with significant track access to the Canadian National (CN) main line, establishing AMP as the first single-source locomotive overhaul and repair shop in the area. In addition, the Company acquired California-based Visalia Electric Motor Shop, a leading provider of repair, maintenance and overhaul services for motors, generators and the growing wind industry. MISCOR's acquisition of Visalia expanded its service reach to 14 Western states that form one of the largest concentrations of wind turbines in the United States.

"Our third quarter results are a reflection of our ability to simultaneously increase sales and profitability, while strategically expanding the Company into new, high-growth-potential markets," said John Martell, president and CEO of MISCOR. "With the introduction of a new rail service center in Montreal, as well as expanding our repair, remanufacturing and service work in both the locomotive and wind industries, we are confident in our ability to drive the business forward, and we expect to continue our momentum into the fourth quarter."

For the first nine months of 2008, MISCOR reported an 81 percent increase in net sales to $91.7 million, compared to net sales of $50.6 for the first nine months of 2007. The increase in sales in the period was driven by a 118 percent increase in service revenues to $73.0 million, and a 9 percent increase in product sales to $18.7 million. MISCOR's acquisition in January 2008 of Dansville, NY-based AMP Rail Services contributed to the sales increase. MISCOR posted net income of $1.5 million, or $0.13 per dilute share, for the first nine months of 2008, compared to a net loss of $2.3 million, or $0.32 per dilute share, in the year-ago period. In addition, operating income more than doubled to $2.4 million, compared to $960,000 for the first nine months of 2007.

Martell added: "We are pleased with our progress through the first nine months of 2008, especially as we continue to see growth in the number of service contracts due to the efforts of our dedicated sales team. In addition, our new California location provides us with new customer opportunities now that we can more easily service this region, an area which is widely recognized as having the greatest concentration of wind turbines in the country."

Segment Results:

Repair, Remanufacturing and Manufacturing (RRM) and Construction and Engineering Services (CES)

For the third quarter of 2008, RRM realized a 59 percent increase in sales to $21.7 million, including an increase of $4.8 million in motors, magnets and other industrial products and services, as well as an increase of $4.5 million in services related to locomotive and locomotive engine rebuilding and remanufacturing CES increased sales 140 percent to $9.7 million, on the strength of a $2.5 million gain in electrical contracting services and $3.2 million in revenue contribution from the Oct. 2007 acquisition of Ideal Consolidated. MISCOR noted the growth in CES revenue was a result of a strong local construction market as well as growing name brand recognition.

"Our strong results are due to our ongoing ability to control expenses and effectively manage the fast pace of our business," said Rich Mullin, chief financial officer of MISCOR. "As we continue to evaluate new opportunities, both geographically and from a product and services standpoint, we remain committed to controlling costs and investing in top-tier frontline talent as we continue our transformation into North America's service provider of choice."

Martell concluded: "We are very pleased with our results and the growth we have experienced both in the third quarter and throughout 2008. The investment we made across all aspects of the business, our strategic approach to evaluating new opportunities, and our ability to quickly and efficiently integrate new subsidiaries into our business model, have positioned us to not only finish 2008 with record results, but provide the foundation to push the Company higher in 2009."

About MISCOR

South Bend, Ind.-based MISCOR Group, Ltd. (OTC BB: MIGL) provides electrical and mechanical solutions to industrial, commercial and institutional customers through two segments: the RRM (repair, remanufacturing and manufacturing) segment, which provides maintenance and repair services for industrial motors, generators, lifting magnets, locomotives and locomotive engines, and diesel engine component manufacturing, remanufacturing and repair services; and the CES (construction and engineering services) segment, which provides a wide range of electrical and mechanical contracting services and engineering and repair services for electrical power distribution systems.

In 2007, MISCOR entered the wind power industry through its acquisition of 3-D Service, Ltd., providing both onsite and in-shop maintenance and repair services for wind farms. MISCOR was ranked on the Inc. 500 in 2004 and 2005 and has grown to more than 700 employees in 16 locations in the U.S. and Canada.

As of May 9, 2008, there were 11,716,959 shares outstanding of the issuer’s Common Stock, without par value .

chart

On February 8, 2008, we amended our Amended and Restated Articles of Incorporation to increase the number of authorized shares of common stock from 12,000,000 to 20,000,000 shares (the “Stock Increase”). The Stock Increase was approved by our shareholders at a special meeting on February 7, 2008, and became effective on February 8, 2008, by the filing of articles of amendment to our Amended and Restated Articles of Incorporation with the Indiana Secretary of State.

On January 16, 2008, the Company acquired 100% of the outstanding shares of common stock of American Motive Power, Inc. (“AMP”) in a transaction accounted for using the purchase method of accounting. Accordingly, the results of operations are included in the Company’s consolidated financial statements from that date forward. AMP is engaged in the business of repairing, remanufacturing, and rebuilding locomotives and locomotive engines and providing related goods and services to the railroad industry. The aggregate purchase price was $10,865 including $7,365 paid in cash at closing and 253,623 shares of MISCOR common stock valued at $13.80 per share, or $3,500. The purchase price was allocated to assets acquired and liabilities assumed based on their estimated fair value at the date of acquisition. The excess purchase price over those fair values was recorded as goodwill. The fair value assigned to assets acquired and liabilities assumed are based on valuations using management’s estimates and assumptions as of January 1, 2008, the effective date of the acquisition. The Company has initiated an independent valuation of the property, plant and equipment and intangible assets and will adjust long lived assets accordingly based on the results of the valuation. The preliminary allocation of the purchase price is as follows:

Might have to grab some of this one, looks very nice!

MISCOR Group Names Michael Stefanik Director of Wind Power Solutions
Friday May 30, 2:51 pm ET


SOUTH BEND, Ind., May 30 /PRNewswire-FirstCall/ -- Industrial services provider MISCOR Group, Ltd. (OTC Bulletin Board: MIGL - News) today announced it has named Michael Stefanik as Director of Wind Power Solutions for 3-D Service, a subsidiary of Magnetech Industrial Services, which is a unit of MISCOR's industry-leading Repair, Remanufacturing and Manufacturing Division (RRM). Stefanik brings more than 30 years of experience in the design, construction and maintenance of commercial, industrial, utility electrical systems and renewable energy systems - including wind farms - for projects located throughout North and South America.
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"The wind generation industry holds a great deal of potential for us, making it critical to have someone of Mike's caliber directing one of our high-growth initiatives," said John Martell, President and CEO of MISCOR. "Mike's service-oriented experience spans both North and South America in power generation, including wind power. With his home base in Arizona, we are strategically positioning MISCOR for continued geographic expansion and growth within the wind industry."

"Mike has a broad range of experience in the utility and industrial sectors that will be valuable as we continue to grow in the wind power industry. He is a welcome addition to our leadership team," said Bernie DeWees, President of Magnetech Industrial Services.

As founder and president of Union Power Constructors and Mountain States Electrical Contractors in Arizona, he directed all aspects of the organization's commercial, industrial and utility contracting services. Stefanik has also held project management leadership roles with Arizona Public Service, InfraSource Services and Quanta Services.

3-D Service provides up-tower and in-shop wind power services including comprehensive inspections; filter and lubricant replacement; bearing and slip ring replacement; coupling and gearbox service; balancing and alignment; predictive maintenance, and equipment repair and remanufacturing. The Company provides service for all brands of wind turbine equipment. 3-D Service is an ABB and GE authorized service provider.

For more information, please visit www.miscor.com and www.magnetech.com.

About MISCOR

South Bend, Ind.-based MISCOR Group, Ltd. (OTC BB: MIGL - News) provides electrical and mechanical solutions to industrial, commercial and institutional customers through two segments: RRM (repair, remanufacturing and manufacturing) segment, which provides maintenance and repair services for industrial motors, generators and lifting magnets, and diesel engine component manufacturing, remanufacturing and repair services; and CES (construction and engineering services) segment, which provides a wide range of electrical and mechanical contracting services and engineering and repair services for electrical power distribution systems.

In 2007, MISCOR entered the wind power industry through its acquisition of 3-D Service, Ltd., providing both onsite and in-shop maintenance and repair services for wind farms. MISCOR was ranked on the Inc. 500 in 2004 and 2005 and has grown to more than 600 employees in 14 locations nationwide.

Press Release Source: MISCOR Group, Ltd.


MISCOR Group Reports 83 Percent Increase in Revenues, Record Net Income for First Quarter
Wednesday May 14, 4:05 pm ET
Increased Sales Across All Segments Fuel Growth


SOUTH BEND, Ind., May 14 /PRNewswire-FirstCall/ -- Industrial services provider MISCOR Group, Ltd. (OTC Bulletin Board: MIGL - News) reported record quarterly profit for the first quarter ended March 31, 2008, on the strength of a 74 percent increase in sales in its Repair, Remanufacturing and Manufacturing segment (RRM) and a 112 percent increase in sales in its Construction and Engineering Services (CES) segment.
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MISCOR, a supplier of mechanical and electrical industrial services and products, reported net sales of $29.7 million for the first quarter of 2008, compared to net sales of $16.1 million for the same period in 2007. The top-line gains from increased product sales and service revenues helped the Company post net income of $457,000, or $0.04 per diluted share, in the first quarter of 2008, reversing a net loss of $2.6 million, or $0.38 per diluted share, in the first quarter of 2007. The 2007 first quarter results included a $2.3 million loss on debt extinguishment concurrent with the Company's $12.5 million private placement that was completed in order to increase working capital $5.8 million and reduce long-term debt by approximately $6.7 million.

The 2008 first quarter results reflected an increase in service revenues to $23.5 million, compared to $10.9 million in the first quarter of 2007. The Company said service revenue growth benefited from higher demand in both domestic and international markets for motor repair, testing and maintenance, including MISCOR's growing railroad services business. First quarter 2008 product sales increased 18 percent to $6.2 million, compared to $5.2 million in the prior year period, on higher product sales of diesel engine power assemblies. MISCOR reported operating income more than quadrupled in the current quarter to $745,000, compared to $176,000 in the first quarter of 2007, while gross profit grew 65 percent to $4.7 million.

"Our first quarter results are a continuation of the momentum we established last year as we consistently execute on both organic and acquisition-based growth opportunities," said John Martell, CEO of MISCOR. "Our profit growth in the quarter and our significant increase in product sales and service revenues are due to a combination of efficient operations and the ongoing efforts of our sales teams to grow client relationships. As we continue to focus on winning new contracts while growing our customer footprint, we are well-positioned to continue emerging as a national industrial services provider of choice."

Segment Results:

Repair, Remanufacturing and Manufacturing (RRM) and Construction and Engineering Services (CES)

For the first quarter of 2008, RRM segment posted a 74 percent increase in revenues to $21.1 million, a $9.0 million increase compared to the first quarter of 2007. This increase is primarily related to higher sales of motors, magnets and other industrial products and services. The CES segment more than doubled its revenue to $4.5 million, an increase of 112 percent over the preceding year, due to an increasing demand for power distribution systems and strong demand in the regional construction market for electrical and mechanical contracting services.

"This quarter highlighted our ability to win new contracts and grow our base business, while also successfully integrating our acquisitions," said Rich Mullin, chief financial officer of MISCOR. "Our increases in product sales and service revenues, combined with operating and margin improvements, propelled us further towards our goal of sustained profitability as evidenced by our 4th consecutive quarterly profit."

Martell concluded: "We made several strategic moves in the first quarter that are quickly beginning to pay dividends for us. The acquisition of American Motive Power and our sales teams' ability to quickly triple our newest division's backlog have helped to further solidify our place among the premier service providers. In addition, our ability to put together increasingly larger international and domestic contracts, coupled with our expanding domestic geographic service area, is a clear signal that we are taking our place at the forefront of our industry in providing diversified mechanical and electrical services and products."

About MISCOR

South Bend, Ind.-based MISCOR Group, Ltd. (OTC Bulletin Board: MIGL - News) provides electrical and mechanical solutions to industrial, commercial and institutional customers through two segments: RRM (repair, remanufacturing and manufacturing) segment, which provides maintenance and repair services for industrial motors, generators, lifting magnets, locomotives and locomotive engines, and diesel engine component manufacturing, remanufacturing and repair services; and CES (construction and engineering services) segment, which provides a wide range of electrical and mechanical contracting services and engineering and repair services for electrical power distribution systems.

In 2007, MISCOR entered the wind power industry through its acquisition of 3-D Service, Ltd., providing both onsite and in-shop maintenance and repair services for wind farms. MISCOR was ranked on the Inc. 500 in 2004 and 2005 and has grown to more than 650 employees in 14 locations nationwide.

Press Release Source: MISCOR Group, Ltd.


MISCOR Group Acquires American Motive Power, Acquisition Expands Expertise in Locomotive and Diesel Engine Repair, Reach Grows to East Coast
Thursday January 17, 8:00 am ET


SOUTH BEND, Ind., Jan. 17 /PRNewswire-FirstCall/ -- Industrial services provider MISCOR Group, Ltd. (OTC Bulletin Board: MIGL - News) today announced it has acquired privately held American Motive Power, Inc. (AMP), a provider of a wide range of services to the railroad industry. The acquisition expands MISCOR's locomotive expertise in its Repair, Remanufacturing and Manufacturing (RRM) Division.
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MISCOR said the acquisition of Dansville, NY-based AMP supports the Company's desire to grow its service capabilities in the railroad industry by expanding its repair and remanufacturing of locomotives and diesel engines for locomotives. The AMP operation and its experienced team of technicians are housed in approximately 250,000-square-feet of space, large enough to simultaneously service 20 locomotives.

The new operation and experienced employees are expected to bolster MISCOR's already industry-recognized expertise in the reconditioning, remanufacturing and manufacturing of power assemblies for 710, 645 and 547 EMD diesel engines. In addition, the vertical integration of AMP is an example of MISCOR's strategic growth strategy to add value to its roster of blue clip customers, as MISCOR's subsidiaries Magnetech Industrial Services and HK Engine Components are currently AMP's largest suppliers.

"The acquisition of American Motive Power is a great way for us to kick- off 2008 and continue building on the momentum we established in the second half of 2007," said John Martell, President and CEO of MISCOR. "By expanding our presence along the East Coast we have the opportunity to add new customers and cross-sell our services in the high density transportation centers in the Northeast."

AMP Founder and President Larry Mehlenbacher said: "I am pleased to find a company of MISCOR's caliber that is dedicated to providing the same high level of service and responsiveness that has always distinguished AMP from the competition. I look forward to AMP becoming part of the MISCOR family of companies and watching the company grow under their national industrial- services model."

As part of the acquisition, MISCOR said that Pierre Desrosiers will become Vice President of Operations for the new subsidiary. A veteran of the industry, Desrosiers has extensive locomotive shop maintenance and management experience, including serving as Director-Locomotive Division for Alstom Transport Canada. Joseph Fearon, with more than 40 years of railroad industry experience, will become Vice President of Business Development and Engineering.

Fearon founded Morrison Knudsen Corp-Rail Systems Group, and served as its President. Gary Walsh will become Vice President of Sales and Marketing. Walsh brings an extensive background in sales and marketing management in the locomotive industry with both General Electric and Alstom. MISCOR Executive Vice President and COO Richard Tamborski will become President of American Motive Power, Inc.

In addition to the acquisition, MISCOR also announced that it has closed a new $15 million financing package with Wells Fargo that will be used for this acquisition and working capital requirements.

A 1-for-25 reverse stock split of MISCOR's common stock which was previously announced on Dec. 3, 2007 was declared effective on Jan. 14, 2008. As a result of the reverse split, the Company's ticker symbol was change to MIGL.OB.

Financial terms of the AMP acquisition and Wells Fargo financing package will be available on separate Form 8-Ks to be filed with the Securities and Exchange Commission (SEC) at www.sec.gov.

First day of trading under the new ticker.

I would like to wish everyone a happy and prosperous New Year.



"May the best of your past be the worst of your future"

Unable to buy MCGL at Interactive Brokers

Anybody else unable to buy this stock at IB? I tried last week; customer service told me their was some kind of clearing problem.

MISCOR Group Names Richard Tamborski Executive Vice President and Chief Operating Officer
Thursday December 20, 8:12 am ET


SOUTH BEND, Ind., Dec. 20 /PRNewswire-FirstCall/ -- Industrial services provider MISCOR Group, Ltd. (OTC Bulletin Board: MCGL - News) today announced it has named Richard Tamborski Executive Vice President and Chief Operating Officer of MISCOR. Tamborski, who currently serves as a director of MISCOR is an industry veteran and adds deep operations and management experience. He will assume his new position effective Jan. 14, 2008.
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MISCOR (www.miscor.com) said Tamborski will oversee all operational aspects of MISCOR's subsidiaries. Tamborski currently serves as Vice President of Operations for Alstom Transports Train Life Services in the United States and Canada, which provides a variety of state-of-the-art infrastructure, repair and remanufacturing, and locomotive maintenance services for the rail industry. Alstom Train Life Services is a division of Alstom, a Paris, France-based global power and transportation manufacturer.

"As we continue to grow, adding new products and services throughout an expanding geographic service area, it's critical to have someone of Rich's caliber joining our management team," said John Martell, President and CEO of MISCOR. "His global operations background and extensive knowledge of our Company provides us the opportunity to enhance the efficiency of our operations as we continue to grow into a national service provider of choice for the industrial markets."

Prior to serving with Alstom, Tamborski was Vice President of Global Sourcing and Logistics for Wabtec Corp., a Wilmerding, Penn.-based supplier of components and services to the rail and transit industries.

Tamborski remarked: "I've been a part of MISCOR's development into a market leader, and look forward to getting more directly involved in the day- to-day operations of such a fast growing company. With our management team's focus on continued growth, coupled with my familiarity with the markets served and the Company itself, we have an excellent opportunity to solidify our place as a national industrial services leader."

MISCOR noted that Tamborski will continue to serve as a director of the Company.

not bad MCGL share holders!!!!
IMO this is a long hold if your holding

.63 whata run congrats!!

nice run so far!

I got out with a 52% profit. I dont trust the R/S without an uplisting. I may get back in later after the dust settles.

GLTA

I will maintain the board but if someone wants to take it over, let me know...

.47

Most of the time I would agree. If it is used to uplist to a higher exchange, I have no problem with it.

rs is not good.....

thx!!

In addition to the acquisition, MISCOR's board of directors approved a 1- for-25 reverse stock split of the Company's common stock. The reverse split is expected to be effective Jan 10, 2008. Shareholders with a total number of shares not divisible by 25 will receive a cash equivalent for the fractional shares held. MISCOR currently has 271.8 million shares outstanding, and will have approximately 10.9 million shares outstanding once the split is effective.

http://biz.yahoo.com/prnews/071203/clm016.html?.v=101

When's the rs

Nice volume too.


I hope they announce an uplisting after the R/S...

.44 ask

I like her chart for sure...are we expecting great q4 earnings??

up .05 cents today, someone likes what is going on with this stock!!!!!!!!!!!!!

not sure, maybe in the near future IMO