Manitex International, a provider of lifting solutions including boom truck and rough terrain cranes, rough terrain forklifts, special mission-oriented vehicles and specialized engineered trailers, posted third-quarter 2010 revenues of $24.9 million, a 65-percent year-over-year increase compared with $15.1 million for the third quarter of 2009, and net income for the third quarter of $700,000, compared to a net loss of $100,000 for the third quarter a year ago.
EBITDA for the third quarter was $2.3 million, or 9.1 percent of sales, compared to a $100,000 loss in the year-ago period. Gross profit was $5.9 million, or 23.6 percent of sales, compared to $2.2 million of 14.7 percent in the third quarter of 2009.
“We’re especially pleased to be reporting our third consecutive quarterly profit,” said chairman and CEO David Langevin. “The increase in our profitability for the current quarter is the result of a number of positive factors including continued growth in non-domestic sales, favorable product mix, and continued cost diligence.”
Langevin expects continued growth in the fourth quarter.
Manitex International is based in Bridgeview, Ill.