Columbus McKinnon revenue soars
Columbus McKinnon reported revenue of $213.5 million for its first quarter of fiscal 2022, up 53 percent from $139.1 million in last year's first quarter.
The Dorner acquisition added $34.2 million in sales. Organic growth grew by 24 percent.
A net loss of $7.3 million, or a loss of 27 cents per share, compared to a loss of $3 million, or 12 cents per share, in the same period last year.
"We had a very good start to fiscal 2022 delivering strong growth, expanding margins and achieving record backlog. We are encouraged by increasing demand in all markets. Importantly, we are also having success with our new products and customer solutions, as we continue to advance our Blueprint for Growth 2.0 strategy. Dorner, our new conveying solutions platform, is seeing strong demand and is outpacing expectations. We are working across the enterprise to drive growth initiatives as we pursue the many opportunities in front of us,” said David Wilson, president and CEO of Columbus McKinnon.
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.
