Buhler Industries Inc. reports 1st quarter earnings
Winnipeg, Manitoba
February 10, 2010
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.
| 3 months to December 31, 2009 | Previous year | |
| Revenue (millions) Net profit (millions) Net profit/share Shares issued (millions) |
$42.8 $1.4 $0.06 25.0 |
$57.1 $4.4 $0.18 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.
Contact
Willy Janzen, Chief Financial Officer
Phone: (204) 654-5718
E-mail: wjanzen@buhler.com
Click here for complete financial statement
Trading symbol: BUI