Buhler Industries Reports Year End Earnings
Winnipeg, Manitoba
December 19, 2002

Year ending September 30, 2002 Previous year
Revenue $232,619,000
Net profit $13,360,000
Net profit / share $0.58 $0.30

Year-end Earnings

Earnings for year ending September 30th, 2002 were $13.4 million compared with $7.1 million last year. Gross profit was $49,485,000 (21.3%) for 2002 compared to $31,410,000 (16.7%) last year. The number of shares outstanding at year-end was 23.0 million.

Year-end Revenue

Revenue for the year was $233 million compared with $188 million last year.

Dividend Increases

The Company increased its annual dividend from $0.11 to $0.12 per share. The dividend is payable January 29th, 2003 to shareholders of record on December 30th, 2002. This is the 10th consecutive increase in dividends and the Company expects that dividend increases will continue.

Lower Revenue and Earnings Forecast for 2003

Tractor sales to the CNH distribution channel ended during the fourth quarter of 2002. As forecasted during the previous 3 quarters, the Company’s sales and earnings will now return to normal levels.

Complete Financial Statement


Craig Engel - President
Phone: (204) 228-6206
E-mail: cengel@buhler.com

Trading symbol: BUI