This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Alamo Group Announces Record 2011 Third Quarter Results

Alamo Group Inc. (NYSE: ALG) today reported results for the third quarter ended September 30, 2011.

Net sales for the third quarter were $155.1 million compared to net sales of $136.7 million for the same quarter of 2010, an increase of 13%. Net income for the quarter was $10.1 million, or $0.84 per diluted share, versus $8.2 million, or $0.68 per diluted share, for the third quarter of 2010, an increase of 23%. The net sales and net income results represent record levels for Alamo Group as the Company experienced growth in all three segments of its business.

Net sales for the first nine months of 2011 were $456.6 million versus $405.9 million for the comparable period of 2010, an increase of 12%. Net income in the nine month period was $24.6 million, or $2.06 per diluted share, compared to $17.0 million, or $1.43 per diluted share, for the same period in 2010, an increase of 45%. The 2011 nine month results were also a record for Alamo Group.

Included in the results is the effect of reclassification of freight revenue. Freight billed to customers had previously been recorded as a reduction in cost of sales and has since been reclassified to sales. This change resulted in an increase in third quarter net sales of $4.5 million in 2011 and $4.4 million in 2010. For the nine month period this change resulted in an increase in net sales of $12.3 million in 2011 and $10.9 million in 2010. There was no impact on reported earnings in any period.

Alamo Group’s North American Industrial Division net sales for the third quarter of 2011 were $57.0 million, an increase of 19% compared to net sales of $48.0 million in the prior year’s third quarter. For the nine month period, net sales in the Division were $165.3 million versus $144.7 million in 2010, an increase of 14%. These increases were the result of stronger demand from governmental entities for the replacement of right of way maintenance equipment despite ongoing budget constraints.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

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