Despite an unseasonably warm winter that dampened demand for its snow and ice control equipment for light trucks, Milwaukee-based Douglas Dynamics Inc. today reported a strong fourth quarter.
The company's quarterly net sales grew to $60.3 million, up 24.3 percent from the same period a year ago.
The firm's quarterly adjusted net income was $6.3 million, or 29 cents per share, up from $5.1 million, or 23 cents per share in the same period a year earlier.
The Douglas Dynamics brands include Blizzard Snowplows, Fisher Engineering and Western Products.
James Janik, president and chief executive officer of the company, said, "We are pleased with our fourth quarter financial performance, especially in light of experiencing one of the weakest fourth quarter snowfalls in over a decade. Despite seeing strong demand in October and November, the lack of snowfall in the latter part of the quarter caused distributors to delay additional purchases in December. The strong start to the quarter meant we were able to generate double digit sales growth. While snowfall is a very important driver of our business, we continue to believe we are experiencing the start of a multi-year replacement cycle, which will unwind over the next several years."
Douglas Dynamics sales overcome warm winter
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