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April 2006 issue of
Rental Management
Gehl reports records for 2005
04/01/2006
Gehl Co., West Bend, Wis., reported net income of $6.2 million for the fourth quarter of 2005. This compares with net income of $2.9 million for the final quarter of 2004. The 2005 fourth quarter was positively impacted by $.12 per share as a result of reversing, in full, a $1.5 million after-tax warranty charge the company had recorded in its second quarter of 2005. Fourth quarter 2005 revenues were a record $108.7 million compared with $93.9 million in the same period a year earlier.

Annual revenues were $478.2 million in 2005, also a record level, compared with $361.6 million in 2004. Construction segment net sales increased 42 percent to $344 million for 2005.

For 2005 the company’s net income totaled a record $21.8 million, compared to $13.4 million for 2004.

Based on 2006 forecasted market growth for compact equipment in North America, as well as the company’s recent order rate, backlog position and production capacity, the company expects 2006 net sales to be in the range of $510 million to $520 million, an increase of between 7 percent and 9 percent over 2005 levels. Operating margins are expected to continue to improve as the result of initiatives to tightly manage costs and improve efficiencies throughout the organization.

Provided general economic conditions continue to be favorable, the company expects to earn in the range of $2.13 to $2.18 per share in 2006.



 

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