Alamo Pleased with Q3

Alamo Group Inc. reported its financial results last week for its quarter ending September 30.

It reported a record net income of $14.8 million and operating profit margins of more than 10% for the quarter. Net income for the same quarter last year was $13.4 million.

Net sales were down 1.4% due to currency translation, the report said, but agricultural and industrial sales were up despite a down market.

The Company's Agricultural Division reported net sales of $58.92 million in the third quarter, a slight increase compared to the $58.87 million achieved in 2014. For the first nine months, the division's net sales were $160.4 million this year compared to $163.3 million in the first nine months of 2014, a decrease of 1.8%.

Ron Robinson, Alamo Group's President and CEO, said the company is pleased with its results for the quarter in the context of soft markets.

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