Columbus McKinnon Sales Down 2.3% in Fiscal 2Q - Modern Distribution Management

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Columbus McKinnon Sales Down 2.3% in Fiscal 2Q

Orders in the U.S. slowed through the quarter.
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Columbus McKinnon Corp. (NASDAQ: CMCO), Amherst, NY, a manufacturer of material handling products, reported sales for the fiscal 2013 second quarter ended Sept. 30, 2012, of $146.5 million, a decrease of 2.3 percent from the same period a year ago. Profit jumped 23.6 percent to $8.3 million.

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For the first six months, sales were $299.5 million, 3.4 percent higher than the prior-year period. Profit increased 76.5 percent to $16.7 million.

“Sales remain robust in Asia and Latin America and the U.S. market continued to have solid results, although orders in the U.S. slowed through the quarter,” Timothy T. Tevens, president and CEO, said. “Activity has remained consistent regarding the number of orders we receive, yet customers appear hesitant to make large commitments and are reducing the average size of orders.”

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