06.02.2005

Bobcat revenues jump 21 percent

Bobcat, producer of compact equipment, including Telehandlers saw revenues rise by 21 percent in 2004, compared to 2003.

Ingersoll-Rand’s Infrastructure division which is largely Bobcat, saw revenues climb to $3.3 billion and operating income soar by almost 50 percent to $437 million or 13.4 percent of sales. The increase reflected both volume gains and the benefit of productivity initiatives that were partially offset by higher material costs according to the company.


Bobcat’s parent company Ingersoll-Rand saw full-year 2004 net revenues rise by 14 percent to $9,394 million compared to 2003. Excluding currency gains, revenues rose by 11 percent. Group operating income for 2004 totaled $1.1 billion an increase of 42 percent compared to 2003.


"During the past four years, we substantially completed the process of aligning and strengthening our portfolio to capitalize on growth opportunities in global markets," said Herbert L. Henkel, chairman, president and CEO. "We divested $3.3 billion in cyclical, low growth, asset-intensive businesses and improved efficiencies, capabilities, and product and services development across our high-potential businesses. As a result of these efforts, Ingersoll-Rand today is a diversified company with strong growth prospects, bearing little resemblance to the capital-intensive machinery business of its past. Our strong 2004 fourth-quarter and full-year performance validates our ongoing strategy and creates momentum to support substantial continuous improvement."