IPO costs sap Douglas Dynamics profit Bizjournals.com
Douglas Dynamics Inc. , a Milwaukee maker of snowplows and salt spreaders for inconsiderable trucks that recently went unrestricted, said Tuesday that costs akin to its initial public donation sapped nearly all of its transfer-quarter profit.
Douglas Dynamics (NYSE: PLOW) reported net proceeds for the second quarter of $100,000 versus net return of $5.7 million, or 38 cents per allocation, a year ago. On a per-share foundation, the company broke even in the favour quarter. Excluding expenses common to the IPO in May, the company would have reported adjusted net profits of $9 million, or 49 cents per dole out.
Revenue for the second quadrature increased 11.1 percent to $66.2 million, compared with $59.6 million.
Douglas Dynamics said the prolong in net sales reflects stronger comprehensive pre-season orders compared with the late year and the timing of pre-spice shipments shifting toward the b quarter versus the third house. The sales increase was comparatively offset by an expected lessen in parts and accessories sales as distributors foretell end users shifting their investments from repairing existing paraphernalia towards purchasing new equipment.
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Washington TimesSunshine to move in as cloudburst moves offThe Aurora SentinelThere was a account of a snowplow stuck in the southeast part of the city near the farthest reach of Smoky Hill Course. Reports of spinouts and minor accidents Big Snowstorm Emotional Out Of Colo. To Kansas, Neb.Big snowstorm wallops Colorado, WyomingStorm dumps snow on Rockies, plains, more forecastall 1,336 talk articles »
