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Deere Running Wild

DeereMarch 24, 2011 – It was a good quarter for Deere & Co. The company announced net income of $904.3 million for the second quarter ended April 30, compared with $547.5 million for the same period last year. Second-quarter 2010 earnings were $677 million. For the first six months of the year, net income was $1.418 billion compared with $790.7 million last year. Worldwide net sales and revenues increased 25 percent to $8.910 billion for the second quarter and were up 26 percent to $15.029 billion for six months. Net sales of the company's equipment operations were $8.328 billion for the quarter and $13.841 billion for six months, compared with $6.548 billion and $10.785 billion for the corresponding periods last year. Construction and forestry sales climbed 46 percent for the quarter and 61 percent for six months mainly due to higher shipment volumes and improved price realization, according to the company.

Flexco on the Go

flexco200x133May 10, 2011 – Flexco recently opened a new facility in Lemont, Ill. The facility will manufacture a new generation of conveyor rollers under the brand name CoreTec. The opening was celebrated with remarks from Flexco President and CEO Richard A. White and Plant Manager Ganesh Bhaskarla. White expressed what the newest product offering means to Flexco. “CoreTech is a complementary addition to our ever-expanding product offering and a testament to Flexco’s commitment to bringing innovative technology to our customers worldwide,” White said. Bhaskarla spoke about expanding the production of CoreTech conveyor rolls from a single facility in South Africa to the new North American facility. “Adding capacity in North America enables us to respond to our global customer base,” said Bhaskarla. “We look forward to being a ‘ship from stock’ facility in the near future.” The building boasts 3,000 sq. ft. of office space and 29,000 sq. ft. of plant space for the production and assembly of the conveyor rollers.

A 426 Percent Increase?

Cat_logoMay 3, 2011 – You'd probably feel pretty good about your business right now if you just had a 426 percent increase, right? Well, Caterpillar exceeded all expectations with first-quarter 2011 profit of $1.225 billion compared with a profit of $233 million in the first quarter of 2010. That is an improvement of 426 percent. While higher sales volume played a role, $90 million of the improvement was due to the absence of a tax charge from the first quarter of 2010 related to enactment of U.S. health care legislation. Cat executives noted that demand continued to improve, they increased production, cost control was excellent and operating profit margin improved. Copy that formula!

Doosan, H&E, Deliver Loaders to ODOT

HE_Equipment_Services_deliveryMay 5, 2011 – A total of 24 Doosan DL200 wheel loaders were delivered by H&E Equipment Services to the Oklahoma Department of Transportation (ODOT). Deliveries were made to eight ODOT facilities throughout the state by H&E Equipment Services locations in Tulsa and Oklahoma City, OK. Except for special ODOT yellow paint, all of the units were ordered with standard equipment. The machines will be used to load sand, salt and road building materials at ODOT facilities. DL200 wheel loaders have an operating weight of 25,851 pounds and are powered by 143-hp, 6-cylinder Doosan DL06 diesel engines. They are equipped with standard 2.6-cu.-yd. buckets. Like every Doosan machine, the DL200 wheel loaders are covered by an innovative 48-hour parts guarantee. The program guarantees that if a “machine-debilitating” part is needed, Doosan will deliver this part to the end user within two business days or Doosan will pay for a replacement machine rental.

Astec Industries Grows 19 Percent in First Quarter

Astec Industries has released its first quarter 2011 report. Revenues for the first quarter of 2011 were $230.2 million compared with $193.5 million for the first quarter of 2010, a 19 percent increase. Domestic sales grew 13.9 percent compared to the first quarter of 2010 and international sales grew 29.2 percent compared to the first quarter of 2010.

Read more: Astec Industries Grows 19 Percent in First Quarter