Columbus McKinnon fiscal 2019 sales grow
Columbus McKinnon Corporation said its fiscal fourth quarter sales increased 1.2 percent to $216.7 million.
Sales grew 7.3 percent adjusted for divestitures and effect of foreign currency.
Net income for the quarter of $19.7 million increased $11.3 million, or 133 percent; earnings per diluted share of 83 cents increased 47 cents, or 131 percent.
For the full year, sales increased 4 percent to $876 million in fiscal 2019 with record gross margin of 34.8 percent.
Net income of $42.6 million, or $1.80 per share, compared to $22.1 million, or 95 cents, in 2018.
Mark Morelli, president and CEO of Columbus McKinnon, said that during the year, as part of its 80/20 Process to simplify the business, CM "eliminated four facilities and measurably simplified our wire rope hoist product line, while improving customer satisfaction."
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.
