10.03.2011

Skyjack up 69%

Linamar has published its full year 2010 results which include a comment that Skyjack sales jumped 69 percent in the 12 months – the Industrial division, of which Skyjack is the majority posted revenues of $153.2 million – eight percent down on last year, due to a collapse in the sales of agricultural and consumer products that make up the balance of the division.

Sales for the fourth quarter for the division as a whole increased 143 percent to $34.8 million, but this is partly due to a sale reversal last year. The industrial division cut its losses for the year to $28.4 million.

Linamar as a whole posted a more than 33 percent improvement to $2.23 billion, while pre-tax profits $117.6 million, compared to a loss in 2009 of $46.2 million.

Chief executive Linda Hasenfratz said: “We are very pleased with our 4th quarter results capping off a year of rapid recovery from the lows of 2009. Sales, earnings, content per vehicle, global market presence and booked business launches are all growing, poising Linamar for continued successful growth in the coming years.”

Vertikal Comment

Linamar does not shed too much light on Skyjacks numbers anymore and they appear to be buried along with some low revenue high loss operations. However there are enough comments in the accounts to understand that

Skyjack posted a solid improvement in both the quarter and the year.
The company has also released a major product development programme that will see it round off its boom lift line while updating some of its telehandler range.