Gehl Co. has reported significantly higher net income for the second quarter ending June 28 of $2.2 million. The company pulled in a net income of $895,000 in second-quarter 2002.
Gehl Co
Gehl Co. has reported significantly higher net income for the second quarter ending June 28 of $2.2 million. The company pulled in a net income of $895,000 in second-quarter 2002. Net sales in the quarter were $68.6 million compared to $66.7 million for the same period last year.
Gehl construction equipment sales for the quarter were $44.1 million, a 7% increase from second-quarter 2002. According to the company, the increase in sales was primarily due to shipments of compact truck loaders, a new product that was introduced in 2002.
Increased sales by the company's attachment business, CE Attachments, also contributed to the increase.
In spite of the increase, the company is now forecasting less improvement in the U.S. economy during the second half of 2003. Gehl now expects its net sales in 2003 to be flat or up 2%.
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