Valmont: 1st Qtr. Results

Valmont Industries, Inc. reported sales for the first quarter of $568.0 million compared with $367.4 million for the same period of 2010. First quarter 2011 net earnings were $25.6 million, versus first quarter 2010 net earnings of $16.5 million.

Irrigation segment sales increased 39% over 2010 to $151.0 million. In global farm markets, increased investment in mechanized irrigation equipment was driven by tightening global grain supplies, which led to rising crop prices and the outlook for a meaningful increase in net farm income. Operating income grew 55% to $23.9 million and was 15.8% of segment sales. The increase in operating income was the result of improved productivity and volume leverage.

Valmont Industries has been an Association member since 1965. ◆