Alamo Group Reports Record 2Q Results

Alamo Group, Seguin, TX said that net sales for the second quarter of 2008 were $152.2 million, an increase of 15% compared to net sales of $132.0 million in the second quarter of 2007.  Net income for the quarter was $5.6 million, a 38% increase over $4.0 million, the previous year. 

Higher sales in all reporting segments, consistent gross margins and lower operating expenses as a percent of sales, accounted for the increase in net income for the second quarter of 2008.

The acquisition of Rivard Developpement SAS on May 30, 2008, contributed $6.9 million in sales in the 2008 second quarter.  Without the acquisition, net sales were up 10% over 2007 and net income was up 30%.  Income from operations increased to $9.4 million, or 6.2% of sales, in the second quarter of 2008 compared to $7.6 million in the prior year.  Both the sales and earnings are the highest quarterly results in the company’s history.