The company announced the sale of its customised lift tables business, American Lifts, in November 2009. It says unfavourable currency rates impacted sales by $3m last year, and notes that there was one less trading day that quarter. Excluding the impact of the sale of American Lifts and these other factors, it says revenue was up 11%.
“Sales improved across most product categories led by the Americas and European markets,” it said.
While both the European and American facilities operated using increased industrial capacity, European facilities were operating at higher levels and providing greater returns.
Sales of $62.3m outside the US made up 48% of total net sales, whereas they made up 45% of total sales in fiscal 2010. Sales grew by 63% in Asia.
Mr Timothy Tevens, CEO at Columbus McKinnon, said: “European sales continue to outpace the general improvement in the economy. Likewise, in Asia-Pacific and Latin America, we are furthering our presence in those expanding economies.”
