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Gehl reports record Q1 net sales
13 Jun, 2006 LM Week in ReviewWESTBEND, WI — Gehl Company reported record Q1 net sales from its continuing operations. For its quarter ending March 31, the company reported net sales of $108.9 million and income from continuing operations of $6.4 million, up from $4.9 million for the same period the previous year.
The company announced the discontinuation of its agricultural implement product lines in April, so the above results do not include an after-tax charge of $8.9 million related to that change.
Including the after-tax charge, the company recorded a net loss of $2.7 million in Q1 2006, compared to net income of $4.9 million in Q1 2005.
"First quarter results provided an excellent start to the year," said William D. Gehl, chairman and CEO. "Record first quarter sales and income, as well as improved margins, reflect the successful execution of our compact equipment focused strategy, continued strength in our construction markets and our ongoing efforts to drive cost out of our business."
The Company reaffirmed its 2006 full year outlook with net sales from continuing operations in the range of $485 million to $495 million and earnings per diluted share from continuing operations of $2.20 to $2.30.
Related story:
"Gehl to focus on compact equipment," LM Week in Review, April 4, 2006.
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