Cummins Reports Most Profitable Third Quarter in Company History
Cummins Inc. last week reported an 18-percent increase in net earnings on a 14-percent increase in sales, compared to the same period in 2005....
CNH Reports Third-Quarter Net Income Up 148 Percent
Lake Forest, Ill.-based CNH Global N.V. last week reported third-quarter 2006 net income of $67 million, up 148 percent compared to net income of $27 million in the third quarter of 2005. Results include restructuring charges, net of tax, of $4 million in the third quarter of 2006, and $16 million in the third quarter of 2005....
Atlas Copco 3Q Revenues Up 22 Percent
In the third-quarter ended Sept. 30, 2006, Stockholm, Sweden-based Atlas Copco Group reported revenues of U.S. $5 billion, an increase of 22 percent from $4.1 billion in 2005, corresponding to 15 percent volume growth. The group’s operating profit increased 41 percent to $920.6 million from 654.6 million a year ago. ...
Ingersoll Rand Posts “Disappointing” Third Quarter
Ingersoll Rand Co. last week reported third quarter net earnings of $243.8 million, or diluted earnings per share of 76 cents for the third quarter of 2006, a slight drop from $254.2 million in the third quarter of 2005 and earnings per share of 75 cents....
Volvo CE Reports 9 Percent 3Q06 Earnings Increase
For the nine months ended Sept. 30, 2006, Volvo Construction Equipment reported a net-sales increase of 9 percent to US $7.8 billion in the third quarter compared with $7.2 billion in 2005. ...
United Rentals Increases Asset Securitization Facility
Greenwich, Conn.-based United Rentals last week announced that it has amended its existing accounts receivable securitization facility to increase the facility size to $300 million from $200 million and reduce borrowing costs under the facility. ...
Haulotte Reports 3Q Sales Surge 45 Percent
For the third-quarter 2006, Haulotte Group, Europe's biggest maker of aerial work platforms, recorded consolidated sales of U.S. $138.2 million, increasing by $107.1 million over the year-earlier period. ...
Husqvarna Q3 Profit Falls 9 Percent On Retailer Inventory Cutback
Stockholm, Sweden-based Husqvarna last week reported that net sales for the third quarter 2006 decreased by 12 percent to U.S. $740.1 million compared with U.S. $845.2 million for the same period in the previous year. After adjustment for exchange rate fluctuations, net sales decreased by 8 percent....
Gorman-Rupp 3Q Net Income Doubles
Mansfield, Ohio-based The Gorman-Rupp Co. last week reported record earnings and sales for the third quarter and nine months ended Sept. 30, 2006. Net income during the third quarter 2006 was $6.6 million and more than doubled when compared to $2.7 million during the third quarter 2005. ...
Manitowoc Reports Third Consecutive Quarter of Record Revenues and Earnings
The Manitowoc Company last week reported that financial results for the quarter ended Sept. 30, 2006 represented the company's third consecutive quarter of record net sales and earnings. ...
Caterpillar Reports 17 Percent 3Q Sales and Revenue Increase
Peoria, Ill.-based Caterpillar Inc. last week reported record third-quarter 2006 sales and revenues of $10.5 billion and record third-quarter profit of $769 million, or $1.14 per share. Sales and revenues increased 17 percent, and profit per share was up 21 percent compared with the third quarter of 2005. Sales and revenues for the first nine months of 2006 of $30.5 billion and profit of $2.7 billion, or $3.86 per share, were also records. ...
H&E Equipment Services Commences Senior Notes Exchange Offer
H&E Equipment Services last week announced that it commenced an exchange offer of any and all outstanding 8 3/8-percent senior notes due 2016 for 8 3/8-percent senior notes due 2016 registered under the Securities Act of 1933. ...
Ingersoll Rand Reports 3Q06 Tax Charge
Hamilton, Bermuda-based Ingersoll-Rand Co. last week announced that, on Oct. 6, the company and its consolidated subsidiaries received a notice from the Internal Revenue Service containing proposed adjustments to the company’s tax filings in connection with an audit of the 1998 through 2000 tax years. The principal proposed adjustments consist of the disallowance of certain capital losses taken in the company’s tax returns in 1999 and 2000. The disallowance would result in additional taxes and penalties of approximately $155 million, plus interest to date of approximately $62 million. The company disputes the IRS’ position and intends to contest the proposed disallowance. The issues raised in the notice are not related to the company’s reorganization in Bermuda, which was effective Dec. 31, 2001. ...
Atlas Copco Announces Q3 Conference Call October 24
Stockholm, Sweden-based Atlas Copco will publish its Q3 results on Oct. 24. Following the recent announcement that Atlas Copco sold its majority stake in RSC Equipment Rental, the format of the group’s financial reporting related to discontinued operations will be revised including prior periods. The revised presentation provides a clearer focus on the continuing operations. ...
Terex Announces 3Q06 Conference Call
Westport, Conn.-based Terex Corp. will host a conference call Oct. 26, to review its third-quarter 2006 financial results. The live call will begin at 8:30 a.m., Eastern Time. Ronald DeFeo, chairman and CEO, will host the call. ...
Cummins Declares Quarterly Common Stock Dividend
The board of directors of Cummins last week declared a quarterly common stock cash dividend of 36 cents per share, payable Dec. 1, 2006 to shareholders of record on Nov. 16, 2006. ...
United Rentals Schedules 3Q06 Conference Call and Webcast
United Rentals will hold its quarterly conference call with Wayland Hicks, CEO, Martin Welch, chief financial officer, and Michael Kneeland, executive vice president-operations, on Wednesday...
Ingersoll Rand Schedules 3Q Conference Call and Webcast
Hamilton, Bermuda-based Ingersoll-Rand Co., a leading diversified industrial company, last week announced that it expects to release its 2006 third-quarter financial results on Friday, Oct. 27, at 7 a.m. Eastern time. ...
Ingersoll Rand Schedules 2Q06 Conference Call and Webcast
Hamilton, Bermuda-based Ingersoll-Rand Co. Limited last week announced that it expects to release its 2006 second-quarter financial results on Friday, July 28, at 7 a.m. Eastern Time. ...
H&E Equipment Services Announces Pricing of Tender Offer
H&E Equipment Services and its wholly owned subsidiary, H&E Finance Corp., last week announced the pricing terms of its previously announced cash tender offer and consent solicitation for its 11 1/8 percent senior secured notes due 2012...
JLG Posts 32 Percent Revenue Growth in Fiscal 2006
JLG Industries last week announced record consolidated financial results for its fiscal fourth quarter and full year ended July 31....
Western Power & Equipment 3Q05 Results Rise 15 Percent
Vancouver, Wash.-based Western Power & Equipment Corp., a vertically integrated provider of construction and industrial equipment and building materials, last week reported total revenues of $29.9 million for its third quarter ended April 30, 2006...
H&E Equipment Services Extends Notes Deadline
H&E Equipment Services last week announced it has extended the expiration date of its previously announced cash tender offer and consent solicitation for its 11 1/8 percent senior secured notes due 2012...
Dow Jones Sustainability World Index Recognizes Caterpillar
For the sixth consecutive year, Caterpillar Inc. has been selected as a member of the Dow Jones Sustainability World Index. DJSI uses a best-in-class approach designed to identify best practices across the economic, social and environmental dimensions of corporate sustainability....
Volvo Board Decides on New Financial Targets
At its scheduled board meeting, and as part of its annual review, AB Volvo's board of directors last week decided to adopt new financial targets for the company. Its previous operating margin was 5 to 7 percent over a business cycle including the operations within Volvo Financial Services. The board said its new annual growth target is more than 10 percent and includes all operations within the group except Volvo Financial Services, which currently contributes approximately another 1 percent....
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