2/15/2012 12:50:00 AM
NEWS BRIEFS
Valmont Industries Achieves Record Results
Valmont Industries reported sales, including fasteners, rose 26% to $752.7 million in the final quarter of 2011, with net earnings more than doubling to $114.7 million.
“Sales in the Engineered Infrastructure Products Segment were higher mostly due to improved demand in the Asia-Pacific region,” stated CEO Mogens Bay.
Full-year sales increased 35% to a record $2.67 billion, with operating income growing 47% to $263.3 million and net earnings swelling to $228.3 million.
“Higher volumes and operating leverage in the Utility Support Structures, Irrigation and Coatings segments resulted in a 10.3% operating income margin, despite a weak performance in the Engineered Infrastructure Products Segment,” Bay noted.
Bay stated that the company’s largest segment, Engineered Infrastructure Products, “faced headwinds during the year.”
“Engineered Infrastructure Products Segment sales increased due to the full year contribution from the former Delta businesses and improved comparisons in international markets.”
“North American and European infrastructure product sales suffered from reduced government funding for roadway projects. Profitability for the segment fell mostly due to the impact of a weak competitive pricing environment and generally higher material costs.” ©2012 GlobalFastenerNews.com
Valmont Industries reported sales, including fasteners, rose 26% to $752.7 million in the final quarter of 2011, with net earnings more than doubling to $114.7 million.
“Sales in the Engineered Infrastructure Products Segment were higher mostly due to improved demand in the Asia-Pacific region,” stated CEO Mogens Bay.
Full-year sales increased 35% to a record $2.67 billion, with operating income growing 47% to $263.3 million and net earnings swelling to $228.3 million.
“Higher volumes and operating leverage in the Utility Support Structures, Irrigation and Coatings segments resulted in a 10.3% operating income margin, despite a weak performance in the Engineered Infrastructure Products Segment,” Bay noted.
Bay stated that the company’s largest segment, Engineered Infrastructure Products, “faced headwinds during the year.”
“Engineered Infrastructure Products Segment sales increased due to the full year contribution from the former Delta businesses and improved comparisons in international markets.”
“North American and European infrastructure product sales suffered from reduced government funding for roadway projects. Profitability for the segment fell mostly due to the impact of a weak competitive pricing environment and generally higher material costs.” ©2012 GlobalFastenerNews.com
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Related Links:
• Valmont
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