Sales for the year were a record $284.7 million, up 35.8% from the prior year. This increase was due to the recovery of the overseas market, as well as the demand for the sprayer line introduced in 2010 and the seeding and tillage lines introduced in 2011 and finally Westeel grain bins introduced in 2011.
|Year ending September 30, 2011||Year ago|
|Net profit (millions)||$11.9||$8.2|
|Net profit / share||$0.48||$0.33|
|Shares issued (millions)||25.0||25.0|
Net earnings for the year came in at $11.9 million, up 45.1% from $8.2 million in the previous year resulting from the increase in sales. Earning per share came in at $0.48 compared to $0.33 in the prior year.
Sales for 2012 are expected to be higher than 2011. Sales of tractors and sprayers are expected to increase both domestically and overseas. New products introduced in 2011 will contribute to sales growth in 2012. Seeding and tillage equipment sales are projected to grow as the result of the 2011 acquisition of Ezee-On. In addition, the Company will continue to increase its grain bin business in the U.S. after forming a partnership with Westeel in 2011.