July 23, 2009

Columbus McKinnon Corp., Amherst, NY, reported sales for the first quarter ended June 30, 2009, were $119.0 million, down 21.3% from the prior-year same period. The manufacturer of material handling products recorded a loss of $2.4 million for the period, compared to profit of $9.7 million the prior year.

Restructuring charges of $5.8 million, associated with a broad reorganization combined with the consolidation of the North American hoist and rigging sales and marketing functions, were recorded during the first quarter of fiscal 2010.

"As expected, our first quarter sales reflect the full impact of the decline in industrial activity around the world," said Timothy T. Tevens, president and CEO. "We are reducing our manufacturing footprint, improving efficiencies and implementing a …

Myers Industries, Inc., Akron, OH, reported sales for the second quarter were $173.2 million, a decrease if 19% from second quarter 2008. The company recorded a loss of $1.4 million for the period, compared to profit of $2.9 million the prior year.

Weak end markets and demand continued to result in volume declines across segments. Customers maintained cautious spending – further reducing inventory levels, purchasing on an as-needed basis, deferring major capital investments and conserving cash. In the Distribution segment, sales of supplies and equipment remained weak due to continued slow demand for both tire and vehicle service.

For the six-months ended June 30, 2009, sales were $363.3 million, down 21.7% from the same period a year ago. Profit decreased 72% to $3.7 …