Amherst, NY-based Columbus McKinnon Corp. (NASDAQ: CMCO) reported sales for the fiscal year ended March 31, 2011, were $524.1 million, up 10.1 percent over fiscal year 2010. The manufacturer of material handling products recorded a net loss for the period of $36 million, compared to a year-ago loss of $7 million.

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For the fourth quarter, sales were $144 million, an increase of 17.1 percent from the same period the prior year. Profit was $2.5 million, compared to $500,000 a year ago.

Sales growth was driven by an increase in global order activity, including noticeable U.S. strengthening.

U.S. industrial capacity utilization – a leading indicator for the company – increased to 74.9 percent in April 2011 trending up from 74.3 percent in December 2010 and 70.9 percent in April 2010. Eurozone capacity utilization has also been trending higher for the last seven quarters, reaching 77.6 percent in March 2011 compared with the trough of 69.6 percent in June 2009.

\”We had a very encouraging quarter as our expanded market reach helped us to take market share while we also benefited from the strengthening global economy,\” said Timothy T. Tevens, president and CEO. \”We have continued our investment in people, operations and new products as well as our expanding global presence. We are gaining excellent traction in China and Latin America, two rapidly growing economies.\”