Net sales increased by 4 percent in the fourth quarter for member company Buhler Industries. The rise in sales is part of an overall picture of optimism.
A news release from Buhler said “projections for 2021 continue to be favorable as sales are expected to continue to grow during the year. The backlog has increased as order activity has strengthened.”
The company went on to day that a restructuring in its manufacturing capacity and changes to reduce the cost of operations will begin producing results this year with the full impact of savings realized in 2022.
Buhler reported a net loss for the quarter, which ended Dec. 31, but it was 44 percent less than the loss recorded for the same quarter last year. The reduced loss is the result of a higher gross margin from sales, forgiveness of debt through a loan forgiveness program, and gain on foreign exchange.
Those improvements were offset by an increase in spending on research and development.