Columbus McKinnon acquisitions drive 18.4 percent sales gain
Columbus McKinnon said sales for its fiscal fourth quarter were $183.7 million, up 18.4%.
The results include the January acquisition of STAHL CraneSystems. Sales excluding acquisitions increased $3.9 million, or 2.5%.
Net loss was $4.7 million, or 22 cents per diluted share, which compared to net income of $5.9 million, or 29 cents, in the fourth quarter of 2016.
For the full fiscal year, sales increased 6.7%, or $40.0 million, to $637.1 million. $65.0 million in acquired revenue was partially offset by a $20.6 million decline in volume. Net income of $9.0 million, or 43 cents per diluted share, compared to net income of $19.6 million, or 96 cents, in the previous year.
"The recent acquisition of STAHL is strategically significant for us and the integration is progressing according to plan. STAHL is already proving to be an excellent addition, as it allows us to expand our business in Europe and add a leading global explosion-protected hoist product line,” said Mark D. Morelli, president and CEO.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
