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Manitex boosts sales, profits, backlog

Wednesday, 16 May 2012 ( #565 ) - Bridgeview, IL, United States
News Story
Manitex International Inc reports significantly higher sales, profits and backlog for the first quarter ended 31 March.

Consolidated backlog increased 179% to USD133.3 million from the comparable quarter of 2011.

Manitex reports profit of USD1.3 million on first quarter sales of USD42.8 million – up from a profit of USD442,000 on sales of USD31.7 million for the comparable 2011 period.

"The momentum in our business that led to record levels of sales, EBITDA and backlog in 2011 continues to move us forward in 2012," says David Langevin, chairman and chief executive officer.

"With our increasing backlog, output expansion and strong niche in the North American energy market, we expect our sales and profits to improve steadily throughout 2012," Langevin notes. "Boom truck bookings are now taking us into 2013 deliveries."

Andrew Rooke, president and chief operating officer, comments: "Our first quarter output expansion was in line with our expectations and provided a sequential quarterly increase of 17% in revenues, allowing us to report a company record in quarterly sales."

Publicly traded Bridgeview-based Manitex provides engineered lifting solutions including cranes, reach stackers and associated container handling equipment, rough-terrain forklifts, indoor electric forklifts and special-mission-oriented vehicles.
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