Buhler Industries Releases Year-End Earnings

Buhler Industries last week released its year-end earnings report. The Winnipeg, Manitoba-based company said revenue for the year was $245.7 million, down $79.8 million from the $325.5 million reported in 2014.

The company attributed the decrease to weak commodity prices and the unstable political environment in Eastern Europe.

Sales in Canada were flat over 2014, the company reported. Sales to the United States and Eastern Europe declined significantly.

Net earnings for 2015 were down by $5.3 million compared to 2014. Buhler offset losses in part through decreased amortization from reduced capital spending, lower interest expenses resulting from the repayment of long-term debt, and recoveries of income taxes from prior years.

Buhler anticipates the weak equipment market will continue in 2016 and projects a decrease in its gross margin and operating margin. On the upside, the company also anticipates that increased strength in the U.S. dollar will provide some relief to declining margins in 2016.

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