Milwaukee-based Douglas Dynamics Inc. today reported second quarter net income of $14.6 million, or 64 cents per share, up sharply from $5.9 million, or 26 cents per share, in the second quarter of 2013.
Revenue was $88.2 million, up 60 percent from $55.2 million in the same period a year ago.
The snow and ice control equipment manufacturer attributed the increase to stronger preseason shipments of equipment and service parts compared to last year. The sharp increase may also reflect a shift of some preseason sales from the third to the second quarter.
“Record second quarter results reflect the improved market environment, which was driven by higher than average snowfall across core markets this past year, combined with our excellent execution and efficient operational management and continued integration success with the TrynEx business,” said James Janik, chairman, president and chief executive officer. “While excited by our strong performance, we believe that the year over year improvement in results was partially due to a shift in shipment timing towards stronger second quarter pre-season order shipments compared to more evenly distributed timing between the second and third quarters last year. This shift was driven by positive sentiment which encouraged dealers to take advantage of our best pre-season order program terms early in the season. Overall, our solid financial results demonstrate the impact of our ongoing continuous improvement initiatives which allowed us to leverage our improved sales into even greater earnings growth.”