James L. Janik, President and Chief Executive Officer of Douglas Dynamics commented, "We are pleased with our third quarter performance. We delivered solid operational and financial results, continued to realize operational efficiencies and quality improvements and successfully completed our pre-season sales period. In our pre-season sales period, we achieved a year-over-year increase in equipment shipments, grew revenue, expanded margins and improved Adjusted EBITDA. As a result, our adjusted EBITDA year-to-date is 14.5% above that of last year. In addition, during the quarter we paid our initial quarterly cash dividend, reflecting the Company's growth and commitment to delivering shareholder value."Net income was $2.2 million, or $0.10 per diluted share, in the third quarter of 2010 compared to net income of $2.7 million, or $0.19 per diluted share, in the third quarter of 2009. Net income in the third quarter of 2010 included $1.2 million in pretax non-recurring expenses associated with compensation expense. Adjusted net income (net income excluding these expenses), was $2.9 million, or $0.13 per diluted share.
Douglas Dynamics Announces Third Quarter 2010 Results
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