Terex Cranes : Net sales for the Cranes segment for the second quarter of 2012 increased $20.1 million, or 4.3%, to $484.2 million versus the second quarter of 2011. Adjusting for the translation effect of foreign currency exchange rates, net sales increased approximately 12% from the comparable prior year period. Strong demand for rough terrain cranes and improving demand for all terrain cranes continued in North America, the Middle East and Latin America, as well as general strength in Australia.Income from operations in the second quarter of 2012 was $43.5 million, or 9.0% of net sales, as compared with a loss from operations of $34.0 million, or 7.3% of net sales, during the second quarter of 2011. Operating results benefited from improved price realization and cost reduction actions implemented in the prior year. The 2011 results included charges of approximately $36 million in restructuring and related charges.
Terex Announces Second Quarter 2012 Results
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