Columbus McKinnon sales up 42 percent
Columbus McKinnon Corporation reported fiscal 2022 second-quarter revenue of $223.6 million, a 42 percent increase from $157.8 million in the same period last year.
The Dorner acquisition added $33.5 million in sales. In the U.S., volume improved 19.7%, and price improved 2.4%. U.S. sales related to the acquisition were $27.3 million.
Net income of $15.2 million, or 53 cents per diluted share, compared to a loss of $4.1 million, or a loss of 17 cents, in last year's second quarter.
“Our team has worked tirelessly to address supply chain challenges with agility and has overcome the impacts of rapid inflation with additional price increases," said David Wilson, President and CEO of Columbus McKinnon. "Also of note, the Dorner acquisition has provided a foundation to evolve our business model into higher growth, less cyclical industries as we continue to expand in the Life Sciences, E-Commerce and Consumer Packaging markets. We expect to leverage this platform to further transform our company into a high value, intelligent motion enterprise.”
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.
