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!

Columbus McKinnon Reports 21% Increase In Operating Income On 11% Growth In Revenue For Fourth Quarter Fiscal 2014

  • Fourth quarter sales were up 11% to $160.5 million driven by 16% increase in non-U.S. sales and 7% increase in U.S. sales
  • Gross margin improved 70 basis points to 31.3% in the fourth quarter over the prior-year period; Fiscal 2014 gross margin improved 180 basis points to 31.0%
  • Generated $29.5 million of cash from operations in fiscal 2014.
  • Announced regular quarterly dividend of $0.04 per share during the quarter
  • Acquired Unified Industries in quarter and expanded product offerings

AMHERST, N.Y., May 22, 2014 (GLOBE NEWSWIRE) -- Columbus McKinnon Corporation (Nasdaq:CMCO), a leading designer, manufacturer and marketer of material handling products and services, today announced financial results for its fiscal fourth quarter and full year ended March 31, 2014. Results include the acquisition of Unified Industries, Inc. on February 28, 2014. Unified Industries, Inc. designs, manufactures and markets overhead light rail workstations primarily used in automotive and industrial applications.

Net sales for the fourth quarter of fiscal 2014 were $160.5million, up $15.9 million, or 11.0%, from the prior-year period. Sales volume was the largest driver of improved revenue; however price improvements and incremental revenue related to acquisitions also contributed to the growth. Foreign exchange translation had a positive impact on sales of $0.2 million in the quarter compared with the prior-year period.

Timothy T. Tevens, President and Chief Executive Officer, commented, "We recognized strong demand in the fourth quarter which converted to revenue very quickly. We completed the installation of a large Rail & Road project in Canada and were excited to see Europe rebound rather nicely from its lows. Higher volume along with productivity improvements drove gross profits at a greater rate than sales as we realized the leverage inherent in our business. Additionally, our recent Unified acquisition was accretive in the quarter and will have a positive impact on sales and operating income in fiscal 2015."

1 of 6

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 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

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