News story

Attachments maker records higher sales

Wednesday, 13 June 2012 ( #569 ) - Fairview, OR, United States
Forklift attachments maker Cascade Corp saw sales increase for the fiscal quarter ended 30 April over last year's comparable period.

Sales of USD141.2 million were up from USD136.2 million, excluding the impact of changes in foreign currency exchange rates.

In its 7 June financial report, Cascade says the increase in sales was due to higher volumes as a result of a strong global forklift market and sales price increases.

For comparable quarters, profit was USD15.2 million - down from USD16.4 million. Results for the prior quarter include net insurance proceeds due to a January 2011 flood in Brisbane, Australia. The after-tax impact of these proceeds increased profit by USD1 million.

Taking foreign currency rate changes into account, Cascade comparable-quarter sales in the Americas increased 6% to USD76.2 million and in the Asia Pacific market by 14% to USD20.7 million. Sales decreases occurred in Europe - 2% to USD26.9 million - and China - 8% to USD17.4 million.

Publicly traded Fairview-based Cascade manufactures materials handling products used primarily on forklift trucks.
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