09.05.2013

Softer quarter for Bronto

Bronto, the truck mounted lift manufacturer has reported a slower start to the year than in 2012.

Revenues were down seven percent to $29.6 million, due more to the mix of products shipped during the period and unfavourable currency factors than anything else. However order intake slowed eight percent to $33.9 million due to slower sales of fire fighting lifts in Asia, partially offset by better sales of regular truck mounts. The company’s order book was down three percent to $88 million.

Operating income fell just over 10 percent to $700,000 due to the lower volume and slightly higher costs.

Owner Federal Signal reported revenues for the quarter of just under $200 million, two percent higher than a year ago. The group recorded a pre-tax loss of $900,000, compared to a profit of $3.8 million this time last year, due to an $8.7 million debt settlement charge involved with the lining up of a new credit facility.

Vertikal Comment

While a relatively flat start to the year by Bronto the company had a very successful Bauma and has a strong order book. Given that the company is Euro based but reports in dollars, the changes are pretty insignificant.

We still expect the company to record another good year, although it may be at similar levels to 2012.