Domestic Surge Lifts Columbus McKinnon 1st Quarter Profits

July 19, 2012 Updated Jul 19, 2012 at 10:09 AM EDT

By WKBW News

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July 19, 2012 Updated Jul 19, 2012 at 10:09 AM EDT

BUFFALO, NY - Net income for the period was $8.4 million, or 43 cents per share, compared with $2.8 million, or 14 cents per share, a year ago.

Net sales for the 2013 first quarter were $153.0 million, up 9.5 percent, from $139.76 million in the prior period. U.S. sales grew 18.5 percent to $88.1 million, or 58 percent of total net sales. Sales outside of the U.S. were down 0.7 percent compared with last year to $64.9 million, or 42 percent of total sales.

Analysts had forecast EPS of 27 cents on revenues of $148.05 million.

Columbus McKinnon (NASDAQ: CMCO) is a designer, manufacturer and marketer of material handling products.

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