4/25/2012 1:16:00 AM
HEADLINES
Record Results Continue for Valmont Industries
Valmont Industries reported sales, including fasteners, rose 26.3% to $717.4 million in the first quarter of 2012. First-quarter operating income swelled 82% to $82.8 million, while net income more than doubled to $52.3 million.
“Record first quarter sales of both irrigation equipment and utility structures were the primary drivers of first quarter results,” said CEO Mogens Bay. “This, combined with favorable weather conditions, stable input costs and double-digit sales growth in all of our segments resulted in a record first quarter performance.”
In its Coatings Segment, sales of $82.8 million were 13% greater than last year. The increase in demand was broad-based and evident in both North American and Australian markets, Valmont stated.
“The effects of a modest economic recovery in North American markets, with an accompanying increase in industrial production, were favorable drivers for galvanizing demand.
Industrial activity in the Asia-Pacific region was higher than last year, when severe weather conditions disrupted demand in Australia.” ©2012 GlobalFastenerNews.com
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