07.05.2012

Bronto up 50%

Finnish truck mounted aerial lift manufacturer Bronto has reported a strong first quarter in terms of revenues and order intake profits remain flat.

Total revenues for the quarter were $31.8 million, 50 percent up on the same period last year, while order intake was $37 million marginally higher than in the same period of 2011, leaving the company with an order book off $88 million – 15 percent up on a year ago. Orders in the quarter came largely from sales to European and Australian rental companies.

Operating income remained static at $800,000 in spite of the higher revenues, due to a less profitable product mix.

Bronto is part of US based Federal Signal which posted revenues for the quarter of $224.6, an increase of almost 30 percent, the group made a pre-tax loss of $300,000 compared to a loss in the same period last year of $4.6 million.

Chief executive Dennis Martin said: “I’m pleased with the continued progress achieved during the first quarter as reflected in the financial results. Orders, sales and operating income were all significantly improved versus last year, and our order backlog continued to increase."

"Our order trends, strong backlogs and margin improvement initiatives have positioned each of our business groups to generate significantly higher profits in 2012. In addition, we refinanced the Company's long-term debt with an option to prepay without penalty upon the sale of certain assets. We remain committed to either divesting or improving our underperforming businesses before year end."