Bühler Industries Inc. Reports Annual Results for Year Ended September 30, 2011

December 30, 2011



Bühler Industries Inc. reported revenues for its fiscal year ended September 30, 2011 increased 35.8% to C$284.67 million compared to C$209.63 million in the prior fiscal year.  The company reported that the second half of the year was especially strong due to the recovery in the tractor market overseas.  Revenue also benefited from demand for the sprayer line introduced in 2010 and the purchase of Ezee-On which allowed the company to introduce seeding and tillage lines during 2011.

Net earnings for fiscal 2011 increased 45.7% to C$11.92 million or C$0.48 per share versus C$8.18 million or C$0.33 per share during fiscal 2010.  Income from operations was up 56.8% to C$28.6 million compared to income from operations of $18.26 million in fiscal 2010.  Income from operations and net earnings benefited from the company being able to maintain fixed costs near 2010 levels which in turn allowed for the decrease in selling and administration expenses as a percentage of sales.  Fiscal 2010 net earnings also benefited from large capital gains from the sale of excess equipment which was not repeated during fiscal 2011.

The balance sheet is in good shape with current assets of C$200.1 million, total assets of C$240.3 million, current liabilities of C$76.74 million and total liabilities of C$95.73 million.  The company has been increasing shareholder’s equity every year since 2003 and 2011 was no exception as book value increased nearly 9% to C$144.56 million or C$5.78 per share.

Buhler Industries Inc. designs, manufactures and distributes agricultural equipment under the brand names of Versatile­® and Farm King.

Source: Bühler Industries Inc.


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