BRIDGEVIEW, Ill. (AP) _ Manitex International Inc. (MNTX) on Thursday reported first-quarter net income of $1.5 million, after reporting a loss in the same period a year earlier.
The Bridgeview, Illinois-based company said it had net income of 9 cents per share. Earnings, adjusted for non-recurring gains, were 2 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The maker of forklifts, cranes and other lifting vehicles posted revenue of $102.4 million in the period.
Manitex shares have climbed 11 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.63, a fall of 30 percent in the last 12 months.
Manitex Inc is a leading producer of truck mounted cranes (boom trucks), sign cranes and trolley boom unloaders in North America under the widely recognized brand names Manitex, Skycrane and USTC.
Manitex Liftking ULC, markets and manufactures a variety of specialty industrial forklifts and vertical or telescopic mast rough terrain lift trucks, as well as specialty lifting and materials handling equipment for Government and military applications.
Badger Equipment Company is a leading producer of Rough Terrain cranes, hydroscopic truck mounted excavators and wheeled excavators.
Manitex Load King is a leading designer and manufacturer of highly engineered, low bed, heavy haul bottom dump and platform trailers and hauling systems.
North American Equipment Exchange is a division specializing in previously owned construction and lifting equipment with the capability to refurbish the equipment to customers’ specification.
CVS Ferrari SrL operates from facilities near Milan, Italy and covers the complete range of container handling equipment, supplying container handling equipment to ports and industrial customers on a worldwide basis.
