Buhler Reports 3Q Earnings

Buhler Industries Inc. reported revenue for the quarter was $77.0 million, up 37.7% from last year’s third quarter of $55.9 million. Sales of $199.7 million for the first nine months were the second best in company history, and are up $47.3 million from the prior year. The increase in sales can be attributed to increased demand for tractors, both domestically and overseas, as well as the sprayer line introduced in fiscal 2010, the company said. Sales for the short-line division remain strong.

Net earnings for the third quarter was $4.6 million, up from $4.0 million in the previous third quarter. For the first nine months, earnings were $5.5 million, compared to $6.1 million last year. This was primarily due to a gain recorded on the sale of property in the prior year and the strengthening of the Canadian dollar during the current fiscal period. In addition, interest and amortization increased as the company has invested in capital assets to broaden its product line.

Sales for 2011 are projected to be strong as the Company is anticipating one of the best years in company history. The return of demand for tractors and sprayers in the export market, as well as the strategic alliance with Westeel and the recent acquisition of Ezee-On, will contribute to sales growth in 2011. While sales are expected to continue to be strong, profit will be affected by the stronger Canadian dollar and higher steel prices.

Buhler has been a member of this Association since 1972. For more information go to buhler.com. ◆