Buhler Reports 1Q Results

Buhler Industries, Winnipeg, Manitoba, reported that revenue for their first quarter was $42.8 million, down from last year’s record first quarter of $57.1 million. The company said it was still above the average sales levels for the quarter. The reduction in sales can be attributed to the late harvest which has postponed sales and a reduction in overseas shipments, the company said.

The company reported that net earnings for the first quarter were close to historical averages at $1.4 million, down from the record $4.4 million in the previous first quarter. They expect sales for 2010 to be strong, reaching above average levels, although short of the 2009 record. Sales of short line equipment continue to be strong however, this is offset by a reduction in overseas tractor sales and as a result sales are expected to be lower than they were in 2009, according to the company.