Buhler Reports 1st Qtr Earnings

Buhler Industries has reported revenue for its first quarter was $52.2 million, up 22.2% from last year’s first quarter of $42.8 million. The increase in sales can be attributed to increased demand for tractors, as well as the sprayer line introduced in fiscal 2010. Sales for the shortline division remain strong.

Net earnings for the first quarter was $0.5 million, down from $1.4 million in the previous first quarter. Buhler said this was primarily due to increased spending on research and development. Sales for 2011 are projected to be strong, with the increased demand for tractors and sprayers. While sales are expected to be higher, profit will be impacted by the stronger Canadian dollar and higher steel prices.