Manitowoc Earnings Break Records
The Manitowoc Company earlier this month reported record-breaking first quarter net sales and earnings per share. Manitowoc’s first quarter net sales reached $1.1 billion, a 44 percent increase from 2006′s fourth quarter. And 2007′s fourth quarter net earnings per diluted share ($0.76) more than doubled 2006′s fourth quarter net earnings per diluted share ($0.35). Manitowoc ice machines reported earnings per diluted share for 2007, at $2.64, represents a 100 percent increase from 2006.
Manitowoc President and CEO Glen E. Tellock expressed in a press release early this month his confidence that Manitowoc’s 2008 report will reflect 2007′s successes. Manitowoc’s Foodservice Group was a strong contributor to its 2007 fiscal record-breaking. Manitowoc Foodservice Group’s “new-product pipeline has helped drive improved top-line performance and increased operating leverage” in 2007, said Tellock.
Manitowoc Ice Machines Are a Good Buy in the Foodservice Industry
Even though the foodservice industry has recently undergone strains on capital spending, Manitowoc ice machines still remain a good buy. Due to the Manitowoc Company’s persistence with advanced energy-saving designs, Manitowoc ice machines save more energy for its customers than any of its competitors. These strengths have increased Manitowoc revenue and margins throughout all quarters in 2007.