Columbus McKinnon Q2 Profit, Revenue Climb - Quick Facts

(RTTNews) - Columbus McKinnon Corporation (CMCO), a designer, manufacturer and marketer of material handling products and services, Friday said second-quarter net income increased to $10.6 million from $7.12 million in the prior year.

Earnings per share advanced to $0.53 from $0.36. On average, 5 analysts polled by Thomson Reuters expected earnings of $0.39 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales rose 5.9 percent to $147.0 million from $138.9 million, driven by volume growth in the U.S., Asia Pacific, and Latin America, as well as improved pricing and one additional shipping day. Analysts expected revenues of $146.27 million.

Timothy Tevens, President and CEO, said, "We believe higher sales are driven by the effectiveness of leveraging our valued global brands and our focus on providing responsive service, on-time deliveries and top quality products for our customers... We expect higher sales to continue through the second half of the year with corresponding healthy leverage."