Columbus McKinnon Corp. (NASDAQ: CMCO), Amherst, NY, a manufacturer of material handling products, reported sales for its fiscal year ended March 31, 2012, were $591.9 million, up 13 percent from fiscal 2011. Profit was $27 million, compared to a year-ago loss of $36 million.
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For the fourth quarter, sales were $159.6 million, up 10.8 percent from the prior-year period. Profit was $9 million, compared to year-ago profit of $2.5 million.
U.S. sales in the fourth quarter increased 20 percent, while sales outside of the U.S. were essentially flat.
"We are focused on inventory optimization to improve turns and reduce our working capital requirements," CFO Gregory P. Rustowicz said. "Along with our Lean activities, we expect the ERP system, which will be a multi-year implementation, to also contribute toward our efforts."
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