Alamo Group Announces Record 2011 1st Qtr.

Alamo Group Inc., Seguin, TX, reported results for their first quarter ended March 31, 2011. The company said net sales for the quarter were $140.7 million, compared to net sales of $131.2 million for the first quarter of 2010, an increase of 7%.

Net income for the quarter was $5.7 million, compared to net income of $4.0 million for the first quarter of 2010, a 42% increase. The 2011 net sales, net income and earnings per share were all records for Alamo’s first quarter results. The company said it benefited from improvements in the worldwide agricultural markets, despite continued weakness in governmental markets in both North America and Europe.

Net sales for Alamo’s North American Agricultural Division were $49.7 million in the first quarter compared to $41.7 million in the first quarter of 2010, an increase of 19%. This growth reflects the general strengthening in the agricultural sector driven by increases in commodity prices and farm incomes, which the company said should benefit them throughout 2011.

The company also announced the appointment of James B. Skaggs as Chairman of the Board. Skaggs fills the position created by the retirement of Donald J. Douglass, Founder and Chairman Emeritus, at the adjournment of the annual shareholders meeting.

Skaggs, has been a director of the company since 1996. He has served on the Board in various capacities over the years, most recently as Chairman of the Compensation Committee and Interim Audit Committee Chair.

Alamo Group Agricultural Division has been a member of this Association since 1952. For more information about the company go to Alamo-Group.com. ◆