Buhler Industries reports 1st quarter earnings

WINNIPEG, Feb. 10 /CNW/ -

Sales

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

                                                                    Year Ago

    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.

Looking Forward

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:

http://www.buhlerindustries.com/investors/reports/buhler-2010-q1.pdf

Trading symbol: BUI

SOURCE Buhler Industries Inc.

For further information: For further information: Willy Janzen, Chief Financial Officer, Phone: (204) 654-5718, E-mail: wjanzen@buhler.com


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