Columbus McKinnon Sales Up 10.9% in Third Quarter Fiscal 2012 - Modern Distribution Management

Log In

Columbus McKinnon Sales Up 10.9% in Third Quarter Fiscal 2012

U.S. sales for Columbus-McKinnon were up 12.5 percent.
Author
Date

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.

We Deliver Distribution News to Your Inbox
Sign up below to receive MDM Update, your free weekly distribution news update by email.

\"\"

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.”

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.