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The Manitowoc Company, Inc. (NYSE: MTW), Manitowoc, WI, reported sales for the fourth quarter of $1.1 billion, an increase of 10 percent compared to the same period a year earlier. Profit increased 131.5 percent to $34.5 million.
The sales increase in the quarter was driven by an 11.6 percent increase in Crane segment sales, coupled with a 6.7 percent increase in Foodservice segment sales.
For the full year, sales were $3.9 billion, an 8.5 percent increase from the prior year. Profit was $101.7 million, compared to a year-ago loss of $11.2 million.