Linamar Corp., Guelph, Ontario-based manufacturer of precision metallic components, modules and systems for global vehicle markets as well as Skyjack aerial work platforms, reported a small decline in second-quarter profit last week, even though revenues increased. The company earned CD $31.3 million (U.S. $29.1 million) in the quarter, or 45 Canadian cents per share, for the three months ended June 30, compared with a profit of CD $32.3 million (U.S. $30.4 million) for last year’s Q2.
Linamar said sales rose from CD$607.1 million in last year’s second quarter to CD $624.4 million this year.
While sales in its powertrain and driveline segments fell largely because of lower medium- and heavy-duty vehicle volumes, industrial sales increased because of “continued strong market demand for aerial work platforms.”
The company had operating earnings of CD $19.9 million for the quarter compared to CD $13.4 million for the same period in 2006, and $43.6 million for the first half of 2007, compared to $24.7 million in last year’s second quarter.
