Milwaukee Electric Tool parent reports record sales

Techtronic Industries Co. Ltd., the parent company of Brookfield-based Milwaukee Electric Tool Corp., today reported record sales, gross margin and profit for the first half of the year.

Net profit attributable to shareholders was $136 million, up 15.9 percent from $118 million in the first half of 2013. Earnings were 7 cents per share, up from 6 cents per share in the same period last year.

Sales were $2.25 billion, up 10.2 percent from $2 billion in the first half of 2013.

- Advertisement -

The sales growth is the result of several successful product launches and targeted geographic expansion, Techtronic said.

The power equipment segment, which includes Milwaukee Electric Tool’s products, reported $1.7 billion in sales, up 10.5 percent over the first half of 2013. The company attributed the increase to organic growth in the professional and DIY power tool segments.

Milwaukee Electric Tool, which manufactures power tools, hand tools, instruments and accessories, has about 450 employees at its U.S. corporate headquarters at 13135 W. Lisbon Road in Brookfield. Within the past three years, the company has more than doubled its employee base at its Brookfield facilities, and in June completed the acquisition of Mukwonago-based measurement tool manufacturer Empire Level Mfg. Corp.

- Advertisement -

“New product introductions, geographic expansion and a relentless focus on operational efficiency propelled our continued outstanding performance,” said Joseph Galli, chief executive officer of TTI. “A highlight of our strong first half result was the 100 basis point improvement in gross margin increasing from 34% last year to 35% this year, through new products introduction and aggressive productivity gains across our supply chain network.”

Sign up for the BizTimes email newsletter

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

What's New

BizPeople

Sponsored Content

BIZEXPO | EARLY BIRD PRICING | REGISTER BY APRIL 15TH & SAVE

Stay up-to-date with our free email newsletter

Keep up with the issues, companies and people that matter most to business in the Milwaukee metro area.

By subscribing you agree to our privacy policy.

No, thank you.
BizTimes Milwaukee