Doug Bawel, Chairman/CEO, started the Jasper Holdings, Inc. annual meeting with a Thank You. He then asked Steve Fleck, Company Chaplain, to open with a prayer. The meeting was held at their corporate facility, and live-streamed to other facilities. Bawel quickly got into the Audited Results for 2018, announcing a new all-time record year in Revenue, Income and EBITDA. He thanked all 3,000+ Associate-Owners for making the past year such a great success.
Total sales for Jasper Holdings, Inc. were $642,713,040, up 5.7% for the year, of which Jasper Engines & Transmissions sales were $402,910,027. Weller sales were $195,636,313, up 5.9% over 2017. Jasper Electric Motors sales were $5,848,528, up 5.5% over 2017, and Jasper Innovative Solutions were $41,485,715. Bawel shared that in 2018, JASPER opened branch locations in Jacksonville, FL, Sacramento, CA, along with acquiring a distributorship in Charleston, WV. Weller opened branch locations in Indianapolis, IN, Denver, CO, and Portland, OR. Branches under construction for 2019 include Lubbock, TX, Pensacola, FL, and a potential location in central California.
Bawel then announced the 2018 Share Price of $462.10, a 36% increase over their 2017 stock price. He went on to add, “Associate-Owners have outperformed 98% of all Publicly Traded Companies.” Bawel thanked all Associate-Owners for their commitment to a never ending improvement in Safety, Quality, Productivity, Customer Service and Reduction of Waste. A total of 34,654 shares will be issued today, bringing a total of 365,885 shares issued, totaling over $169 Million in stock given to our Associate-Owners since 2010. Bawel added, “as of today, 541 Associate-Owners have over $100,000 in their ESOP accounts.” Jasper Holdings, Inc. currently has a market capitalization value in excess of $665 Million.
Q&A followed with a look at the first quarter. Bawel ended the meeting thanking every Associate-Owner for a job well done.