NMHG sales jump by 56.3%

News Story
- 12 May 2011 ( #513 ) - Mayfield Heights, OH, United States
1 min read
The materials handling group (NMHG) had a profit of USD22.3 million on sales of USD586.6 million for the first quarter ended 31 March.

NMHG saw a significant increase in unit volume in all geographic markets, an increase in parts volume and a favourable effect of unit price increases implemented in late 2010 in the Americas and Europe.

NMHG had profit of USD8.0 million on sales of USD375.4 million - a 56.3% jump - in the comparable 2010 first quarter.

NMHG does not anticipate significant supply chain constraints or disruptions, despite the earthquake-related events in Japan. The vast majority of NMHG's supplier plants are not in the affected areas, but, nevertheless, NMHG intends to monitor this situation closely.

NMHG has been in continuing contact with the personnel of its joint venture, Sumitomo Nacco Materials Handling, in Japan. None of the venture's employees have been injured by the earthquake-induced events.

During the quarter, NMHG globally shipped 19,400 new units in contrast to approximately 11,100 units in the 2010 first quarter and 19,700 units in the 2010 fourth quarter. NMHG's worldwide backlog was approximately 24,800 units at 31 March compared with 16,900 units a year earlier and 23,000 units at 31 December.

For all operations - NMHG, appliances, kitchenware and coal - during the 2011 first quarter, Mayfield Heights-based Nacco Industries reports profit of USD62.8 million on sales of USD745.5 million versus profit of USD11.7 million on sales of USD557.6 million for the 2010 first quarter.
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