Clark Material Handling Company has achieved positive net income for the fourth quarter of 2003, the second consecutive quarter "in the black".

Clark president Brian Butler said: "Our fourth quarter performance is a direct result of the performance of our parts operations in Kentucky, our production facilities in Korea, and an increase in sales of Clark forklifts and aftermarket parts."

Mr Butler said the company's performance in 2003 demonstrated it had repositioned its worldwide operations and was "dynamically positioned" for growth in 2004.

Clark would not provide financial figures.