Columbus McKinnon (CMCO) Misses Q3 EPS by 3c
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Columbus McKinnon Reports Fiscal Year 2016 Third Quarter Financial Results
January 28, 2016 6:55 AM ESTMagnetek acquisition exceeding expectations Achieved cost-synergy run rate of $3.7 million to date; already at 74% of $5 million goalRevenue synergy opportunities on track; strong cultural integration, as expectedReduced Magnetek acquisition borrowings by $30 million since closing; well ahead of $50 million debt reduction goal by September 30, 2016 Revenue increased to $159.7 million; Acquisition revenue of $31.7 million more than offset impact of U.S. industrial downturn and negative currency translationAdjusted gross margin of 30.9% in the... More
