Buhler Industries Inc. reports 2nd quarter earnings
Winnipeg, Manitoba
May 15, 2009
| 3 months to March 31, 2009 | Previous year | |
| Revenue Net profit Net profit/share |
$93,352,000 4,586,000 0.18 |
$50,561,000 3,223,000 0.13 |
| 6 months to March 31, 2009 | Previous year | |
| Revenue Net profit Net profit/share |
$150,449,000 9,015,000 0.36 |
$82,966,000 4,426,000 0.18 |
Revenue Increased
Second quarter revenue increased to a record of $93.4 million up 85% over the prior year of $50.6 million. Revenue for six months is $150.4 million up 81% from the prior year. Overseas sales to our majority owner coupled with favorable exchange rates and a healthy demand for agricultural products contributed to the sales increase.
Net Earnings Increased
Net earnings for the quarter increased to $4.6 million from $3.2 million in the previous year. Earning per share came in at $0.18 compared to $0.13 in the prior year. Net earnings for 6 months increased to $9.0 million or $0.36 per share compared with $4.4 million or $0.18 per share last year.
Looking Forward
Record sales in 2009 are expected despite the current global economic crisis. As a result of strong commodity prices there will be an increased focus on the North American market in order to satisfy the demand for equipment. Sales of short-line equipment continue to be strong, however a decline in tractor sales is anticipated for the remaining part of the year.
Contact
Willy Janzen, Chief Financial Officer
Phone: (204) 654-5718
E-mail: wjanzen@buhler.com
Click here for complete financial statement
Trading symbol: BUI