Columbus McKinnon Corp. (NASDAQ: CMCO), Amherst, NY, manufacturer and marketer of material handling products, reported sales for the first quarter fiscal 2012 were $139.8 million, up 17.4 percent from the year-ago period. The company had profit of $2.8 million.
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Sales outside of the U.S. expanded 22 percent to $65.8 million, or 47 percent of total net sales, compared with $53.9 million, or 45 percent of total sales, in the first quarter of fiscal 2011.
Timothy T. Tevens, president and CEO, said: “We had a solid first quarter, realizing market share gains and economic expansion in all of our global markets. The momentum that we started realizing in the middle of fiscal 2011 continued to build and positively impacted our business. We are successfully targeting emerging markets in China, Latin America, and Eastern Europe which we plan to complement with strategic acquisitions as we identify the right opportunities. We believe our growth opportunities in the world’s largest emerging markets could be substantial.”