Columbus McKinnon Sales Up 9.4% in Fiscal 1Q - Modern Distribution Management

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Columbus McKinnon Sales Up 9.4% in Fiscal 1Q

U.S. sales increased 15.1 percent year-over-year.
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Material handling products manufacturer Columbus McKinnon Corp. (NASDAQ: CMCO), Amherst, NY, reported sales for the fiscal first quarter ended June 30 of $149 million, up 9.4 percent from the prior year. Profit decreased 7.4 percent to $6.4 million.

U.S. sales increased 15.1 percent to $93.9 million, with Magnetek contributing $20.9 million – more than offsetting lower volume in the region.  

"Sales growth in the quarter was driven by our Magnetek acquisition and solid revenue growth in Europe," said Timothy T. Tevens, president & CEO. "We have also launched our digital platform, Compass™, which allows customers to quickly and easily design and specify their lifting systems."

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