Posted August 1, 2017

Columbus McKinnon sales climb 36.7 percent

Columbus McKinnon Corporation announced that sales for the first quarter of fiscal 2018 were up 36.7 percent to $203.7 million.

Excluding acquisitions, organic revenue was up 8.0 percent on measurably higher U.S. volume.

Net income was $11.7 million, or 51 cents per diluted share, compared to $6.4 million, or 32 cents, in the same period last year.

"In North America, we saw organic volume growth as our channel partners stepped up inventory levels to address improved demand from the construction, utility, steel and entertainment industries. We are making very good progress with the integration of the Stahl acquisition and achieving targeted synergies. STAHL was a strong contributor in the quarter, addressing pent-up demand for midstream and downstream oil & gas projects.," said Mark D. Morelli, president and CEO.