Milwaukee-based Douglas Dynamics Inc. reported lower second quarter net income and net sales.
The manufacturer of snow and ice control equipment for light trucks said its second quarter net income was down 34.1 percent to $5.9 million and its second quarter sales were down 15.8 percent to $55.2 million.
The company said its 2012 pre-season sales were weighted more heavily than usual toward the second quarter. For 2013, the Company anticipates that shipments for the pre-season order period will be closer to an even split between second and third quarters. This shift is primarily related to the timing of a record number of new product launches, the company said.
“Our results for the second quarter were in line with our expectations given the timing of new product launches and our expectations regarding the related shipment mix trends for the 2013 pre-season order period,” said James L. Janik, president and chief executive officer. “Longer-term, we are excited about this new product line-up and our belief that it will enhance our market leading position and further cement our reputation of constantly delivering best-in-class products and services to our customers. We’re encouraged with positive market indicators such as the ongoing improvement in truck sales and other non-snowfall indicators that drive our business. While it won’t be an immediate return to normal after a very challenging 2012, we are seeing stable market conditions that are showing signs of improvement.”
