Alamo Announces Quarter and Year-End Results

Alamo Group reported net sales for the fourth quarter of 2014 were $223.9 million, an increase of 34% from 2013. Net income for the quarter was $11.4 million, an increase of 104%. For full year 2014, net sales were $839.1 million versus $682.1 million in 2013, an increase of 23%. Net income for the year was $41.2 million compared to $36.1 million in 2013, an increase of 14%. Net sales and net income for both the fourth quarter and full year of 2014 were records for Alamo Group.

Alamo’s North American Ag Division reported net sales of $51 million in the fourth quarter of 2014 compared to $48.1 million in the prior year, an increase of 6%.

The company also announced it had completed the acquisition of Herder Implementos in Brazil. Herder is a manufacturer of flail mowers and other implements which are sold direct and through dealers to the sugar cane, orchard and other agricultural markets as well as for roadside maintenance. Sales in 2014 were under U.S. $3 million. Herder is located in Matao, Sao Paulo, and was founded in 2006. S