Columbus McKinnon Corp. (NASDAQ: CMCO), Amherst, NY, a manufacturer of material handling products, reported sales for the second quarter ended Sept. 30, 2011, were $149.9 million, up 13.3 percent from the prior-year period. Profit was $6.7 million, compared to year-ago profit of $1.9 million.
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Sales outside of the U.S. expanded 22.7 percent to $70.1 million and comprised 47 percent of total net sales, compared with $57.1 million, or 43 percent of total sales, in the second quarter of fiscal 2011.
\”We continue to see solid growth in all markets with excellent expansion in the Latin American countries and Asia, specifically China, as well as strengthening in the U.S. markets,\” said Timothy T. Tevens, president and CEO. \”Our growth in the European markets continues, albeit at a somewhat slower pace. Our strategy to expand our international presence in Asia, Latin America and Eastern Europe, while targeting end markets in the U.S., has been a key driver to our double digit growth in the last four quarters.\”
Sales for the first six months of fiscal 2012 were $289.6 million, up 15.2 percent from the same period in the prior fiscal year. Profit was $9.5 million, compared to $1.1 million for the comparable period a year ago.
Sales outside of the U.S. primarily drove the growth. Non-U.S. sales increased by $24.4 million, or 22 percent, in the first half of fiscal 2012, representing 47 percent of total sales.
