Linamar Corp., parent company to Canadian aerial manufacturer Skyjack Inc., increased sales 50.4 percent during the second quarter of 2010, reporting net earnings of CA$26.6 million (about U.S. $25.4 million) or 41 cents per share. Sales for the quarter ended June 30 were CA $568.4 million (about U.S. $542.7 million), compared with CA $378.0 million for the same period a year ago.
Sales for the industrial segment, which includes Skyjack Inc., decreased 17.5 percent or $9.4 million from the second quarter of 2009 to this year, despite “modest increase in the access equipment markets.” Still, the company said, overall demand for aerial products remains soft “as rental houses continue to extend fleet life and delay purchases.”
Sales for Linamar’s Powertrain/Driveline segment increased 61.6 percent in the second quarter to CA $524.1 million. The company cited higher vehicle sales driven by increased consumer demand in the United States, higher sales from the Asia Pacific operations, and maturing volumes of key programs.
Skyjack Inc. and Linamar’s corporate headquarters are in Guelph, Ontario, Canada.
