Douglas Dynamics profit falls despite sales gains

Milwaukee-based snowplow manufacturer Douglas Dynamics Inc. reported second quarter net income of $13.1 million, or 57 cents per share, down from $14.6 million, or 64 cents per share, in the second quarter of 2014.

Operating income was $23.8 million, down from $24.5 million in the same period a year ago. Selling, general and administrative expense increased to $11.3 million from $8.5 million in the second quarter of 2014.

Revenue totaled $107.1 million, up 21 percent from $88.2 million in the second quarter of 2014.

The company attributed the revenue increase to stronger shipments of equipment and service parts versus the year-ago quarter. Those shipments were due in part to the December acquisition of Henderson Enterprises Group Inc.

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“We achieved solid second quarter results as we continued to execute on our strategy amid positive pent-up demand dynamics,” said James Janik, chairman, president and chief executive officer. “In addition, our pre-season order book was strong, signaling positive dealer sentiment, and excitement around our new product lines, the launch of which further enhances our industry-leading portfolio. We plan to begin shipping these new products in the third quarter, and expect pre-season shipments to be more evenly split between the second and third quarters, as compared to historical trends.”

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