Columbus Mckinnon (CMCO) Tops Q4 EPS by 1c

Columbus Mckinnon (NASDAQ: CMCO) reported Q4 EPS of $0.48, $0.01 better than the analyst estimate of $0.47. Revenue for the quarter came in at $160.5 million versus the consensus estimate of $155.3 million.

Backlog was $86.8 million at March 31, 2014, a decrease of $11.6 million, or 11.8%, from backlog of $98.4 million at December 31, 2013 due to strong fourth quarter shipment levels, a good portion of which was related to the large Rail & Road project installed in Canada and other project backlog that was shipped. Although the time to convert the majority of backlog to sales typically ranges from one day to a few weeks, backlog can include project-type orders from customers that have defined deliveries that may extend out 12 to 24 months. Backlog at March 31, 2014 available for shipment in the quarter ended June 30, 2014 totaled $57.2 million. As of March 31, 2014, project-type backlog of $29.6 million, or 34.1% of total backlog, was scheduled for shipment beyond June 30, 2014. This compares with project-type backlog of $31.1 million at the end of the trailing third quarter and $33.0 million at March 31, 2013.

Both U.S. and Eurozone capacity utilization are leading market indicators for the Company. In March 2014, U.S. industrial capacity utilization improved to 77.6%, compared with 76.8% in March 2013, and 77.1% in December 2013. Eurozone capacity utilization was up measurably to 80.1% in the quarter ended March 31, 2014, compared with 77.6% during the quarter ended March 31, 2013, and 78.4% in the quarter ended December 31, 2013. The Company's sales tend to lag changes in these indicators by one to two quarters.

For earnings history and earnings-related data on Columbus Mckinnon (CMCO) click here.

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