Quebec-based Kinecor reported sales of C$81.7 million (US$68.3 million) for the third quarter of 2008, up 11% from the same period 2007. Earnings improved to C$5.4 million (US$4.5 million), an increase of 17.3%.
Increases in sales of bearings and power transmission parts, and fluid power parts and service revenue, as well as C$4.3 million (US$3.6 million) of revenue from the acquisition of Weir Process Equipment, contributed to overall higher revenues for Kinecor. Increased natural gas drilling activity in western Canada and higher sales to manufacturing, agricultural and mining sector customers also contributed to the increase. Offsetting these revenue increases was a reduction in forestry sector sales in eastern Canada compared to last year.
For the nine …
Kinecor 3Q Sales Up 11%
Quebec-based Kinecor reported sales of C$81.7 million (US$68.3 million) for the third quarter of 2008, up 11% from the same period 2007. Earnings improved to C$5.4 million (US$4.5 million), an increase of 17.3%.
Increases in sales of bearings and power transmission parts, and fluid power parts and service revenue, as well as C$4.3 million (US$3.6 million) of revenue from the acquisition of Weir Process Equipment, contributed to overall higher revenues for Kinecor. Increased natural gas drilling activity in western Canada and higher sales to manufacturing, agricultural and mining sector customers also contributed to the increase. Offsetting these revenue increases was a reduction in forestry sector sales in eastern Canada compared to last year.
For the nine …
Share this article
Log In
Read the latest articles and see your reports.
Popular Now
MDM Directories
Sign Up for the MDM Update Newsletter
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.
