Columbus McKinnon Corp. (Nasdaq: CMCO), Amherst, NY, reported sales for the year ended March 31 were $476.2 million, a decline of 21.5 percent from the prior year. The manufacturer of material handling products recorded a full-year loss of $7.0 million, compared to a year-ago loss of $78.4 million.
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For the fourth quarter, sales were $123.0 million, down 9.4 percent from the same period a year ago. Profit was $0.46 million, compared to a year-ago loss of $102.5 million.
Sales improved sequentially over the last two quarters, reflecting continued improvement in the global economy. U.S. industrial capacity utilization increased to 71.3 percent in April 2010, well above the historic low of 65.2 percent reached in June 2009. Eurozone capacity utilization has also been trending higher for the last three quarters, reaching 75.5 percent in March 2010 compared with the trough of 69.6 percent in June 2009.
International sales were $55.5 million, or 45 percent of total net sales, virtually flat with $55.2 million for the fourth quarter of fiscal 2009, including $3.6 million favorable currency translation impact.