This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Alamo Group Announces Record 2011 First Quarter Results

Stocks in this article: ALG

Alamo Group Inc. (NYSE: ALG) today reported results for the first quarter ended March 31, 2011.

Net sales for the quarter were $140.7 million compared to net sales of $131.2 million for the first quarter of 2010, an increase of 7%. Net income for the quarter was $5.7 million, or $0.47 per diluted share, compared to net income of $4.0 million, or $0.34 per diluted share, for the first quarter of 2010, a 42% increase. The 2011 net sales, net income and earnings per share were all records for Alamo’s first quarter results. The Company benefited from improvements in the worldwide agricultural markets, despite continued weakness in governmental markets in both North America and Europe.

Included in the results is the effect of a reclassification of freight revenue. Freight billed to customers had been previously recorded as a reduction of cost of sales and has since been reclassified to sales. This change resulted in an increase in net sales of $3.4 million in first quarter of 2011 and $2.8 million in the first quarter of 2010, with no impact on reported earnings.

The Company’s North American Industrial Division net sales for the first quarter of 2011 were $49.0 million, an increase of 4% compared to net sales of $47.1 million in the prior year’s first quarter. This increase shows evidence of some pent up demand for the Company’s products despite the continued budget pressures at governmental entities who are the main end users for this Division. This indication of improved demand began in late 2010 and shows signs of continuing in 2011 even as governmental budgets are anticipated to remain tight throughout the current year.

Net sales for Alamo’s North American Agricultural Division were $49.7 million in the first quarter compared to $41.7 million in the first quarter of 2010, an increase of 19%. This growth reflects the general strengthening in the agricultural sector driven by increases in commodity prices and farm incomes, which should benefit the Company throughout 2011.

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs