Columbus McKinnon Q3 Profit Beats Estimates; Net Sales Up 10.3%

(RTTNews) - Columbus McKinnon Corporation (CMCO) reported that its third quarter net income declined to $9.7 million from $12.0 million, prior year. Earnings per share was $0.34 compared to $0.42. Adjusted EPS was $0.74 compared to $0.72. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.68, for the quarter. Analysts' estimates typically exclude special items.

Third quarter net sales were $254.1 million compared to $230.4 million, previous year. Analysts on average had estimated $250.34 million in revenue.

Columbus McKinnon expects fourth-quarter net sales of approximately $260 million to $270 million at current exchange rates. This represents 4% growth year-over-year at the midpoint of the range.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.