Alamo Group Announces Record Results

Alamo Group Inc. has reported results for the second quarter ended June 30, 2013. Net sales for the quarter were $178.1 million compared to net sales of $167.0 million for the second quarter of 2012, an increase of 7%. Net income for the quarter was $11.8 million, compared to $9.3 million for the same period of 2012, an increase of 26%. Net sales and net income for both the second quarter and first six months of 2013 were records for Alamo Group.

Alamo’s North American Agricultural Division net sales were $57.3 million in the second quarter of 2013, versus $53.1 million in the comparable period of 2012, an increase of 8%. Despite lower overall growth rates in the agricultural sector, the Company benefited from increased activity in the second quarter compared to the first quarter of this year which was impacted by late winter conditions.

Ron Robinson, President and CEO, said, “Our Agricultural Division products performed well even though overall industry growth rates continue to be moderating. However, we feel activity was strong in the second quarter as farmers were planting crops that were delayed due to late winter weather. Spare part sales in this Division, also lagged expectations.”

Robinson said, “We continue to feel positive about the outlook for Alamo Group. We believe market demand for our type of equipment will provide a stable foundation for our Company and that determined focus on asset utilization and operational improvement will continue to enhance our results for the remainder of 2013.”

Alamo Group Association member since 1952; alamo-group.com.