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.
“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.”
