The Manitowoc Company Inc. (NYSE: MTW), Manitowoc, WI, reported sales for the first quarter of $427.4 million, an increase of 5 percent compared to the same period a year earlier. The company reported a loss of $204 million, compared to a year-ago loss of $8.4 million.
“We made great strides in the first quarter transitioning to a stand-alone crane business," said Barry L. Pennypacker, president and CEO. "In the first quarter, we experienced continued momentum in our tower business, fueled by residential and non-residential construction. As anticipated, demand for mobiles remains soft.”