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Columbus McKinnon Corp. (NASDAQ: CMCO), Amherst, NY, a designer, manufacturer and marketer of material handling products, reported sales for the third quarter of fiscal 2012 were $142.8 million, up 10.9 percent from the prior-year period.
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U.S. sales were up 12.5 percent to $74.7 million, while sales outside of the U.S. grew 9.3 percent to $68.1 million and comprised 47.7 percent of total sales.
Profit for the quarter was $8.5 million.
Timothy T. Tevens, President and CEO, said: “We have had consistent, solid sales growth as our customer-focused product innovation and quality service combine to capture market share in Europe, Asia and Latin America. We have also seen economic conditions in the U.S. steadily improve throughout the quarter. From a global standpoint, we continue to make strategic investments to capitalize on continued economic development, particularly in emerging markets such as China and Brazil.”
Backlog was $110.3 million at Dec. 31, 2011, compared with $76.5 million at Dec. 31, 2010. Although the time to convert the majority of backlog to sales typically averages from one day to a few weeks, backlog can include project-type orders from customers that have defined deliveries that may extend out 12 to 24 months. As of Dec. 31, 2011, approximately $30.5 million of backlog was scheduled to ship beyond March 31, 2012.
Tevens said: “We continue to realize double digit order growth globally as the U.S. demonstrates renewed strength, and we take market share in Europe where order growth is strong despite the slowing of those economies. Our presence in China, albeit small, is moving ahead well, and we are having strong success in Latin America.”
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