Columbus McKinnon Reports Continued Margin Expansion, Debt Reduction and Earnings Growth in Fiscal - Consumer Finance Hub

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HOME :: RESEARCH :: DEBT :: NEWS:: JUL 2007
Columbus McKinnon Reports Continued Margin Expansion, Debt Reduction and Earnings Growth in Fiscal

Columbus McKinnon Corporation , a leading designer, manufacturer and marketer of material handling products, today announced financial results for its fiscal 2008 first quarter that ended on July 1, 2007. Gross margin improved 80 basis points to 29.6% compared with 28.8% in the first quarter of fiscal 2007 on a 1.0% increase in net sales to $148.1 million. Strong performance in the Company's Products segment, representing 92.3% of total revenue, included sales growth of 6.7%, and operating margin expansion of 70 basis points, more than offsetting declines in sales and profits in its Solutions segment. Products segment sales increased $8.6 million with significant contributions reported by both domestic and European hoist operations, while Solutions segment revenue was intentionally held back to facilitate the transition of the business model for its Univeyor business from engineered-to-order projects to a more "standard" products-oriented offering.

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