WINNIPEG, Feb. 10 /CNW/ -
Revenue for the quarter was $42.8 million, down from last year's record first quarter of $57.1 million. The Company was still above the average sales levels for the quarter. The reduction in sales can be attributed to the late harvest which has postponed sales and a reduction in overseas shipments.
1st quarter ending December 31, 2009
Revenue (millions) $42.8 $57.1
Net profit (millions) $1.4 $4.4
Net profit/share $0.06 $0.18
Shares issued (millions) 25.0 25.0
Net Earnings down for the Quarter
Net earnings for the first quarter were close to historical averages at $1.4 million, down from the record $4.4 million in the previous first quarter. Earnings per share came in at $0.06 compared to $0.18 in the prior first quarter.
Sales for 2010 are anticipated to be strong reaching above average levels, although short of the 2009 record. Sales of short-line equipment continue to be strong however, this is offset by a reduction in overseas tractor sales and as a result sales are expected to be lower than they were in 2009.
Complete financial statement:
Trading symbol: BUI
SOURCE Buhler Industries Inc.
For further information: For further information: Willy Janzen, Chief Financial Officer, Phone: (204) 654-5718, E-mail: firstname.lastname@example.org