Material handling products manufacturer Columbus McKinnon Corp. (NASDAQ: CMCO), Amherst, NY, for the full year ended March 31, 2013, of $597.3 million, up slightly from the prior year. U.S. sales, up 3.9 percent, more than offset the slight decline outside of the U.S. Profit increased 190.3 percent to $78.3 million.
For the fourth quarter, sales for Columbus McKinnon were $144.6 million, down 9.4 percent from the prior-year period. U.S. sales were down 5.8 percent, reflecting a $5.6 million impact of a business divested in August 2012 and three fewer shipping days. Sales outside of the U.S. decreased 14.1 percent, reflecting lower sales volume primarily in Western Europe and Canada as well as fewer shipping days. Profit increased 478.3 percent to $52 million.
The company will continue to invest in global emerging markets, where a faster growth rate is expected compared to the developed markets of the world. According to a press release, Columbus McKinnon is also focusing resources on global vertical markets such as oil & gas, heavy OEM, mining and entertainment.