Wajax Corporation announced a 33% increase in 2012 first quarter earnings.
First Quarter Highlights -- Consolidated first quarter revenue of $358.1 million increased $54.2 million, or 18% compared to last year. Wajax Equipment revenue increased 13% on higher revenue in most product categories. Wajax Power Systems recorded a 32% increase in sales as a result of the acquisition of Harper Power Products Inc. in May 2011 and improved equipment, parts and service volumes in western Canada. Wajax Industrial Components revenue increased 16% on stronger demand for all major product categories, with the majority of the improvement attributable to the energy sector in western Canada. -- Net earnings for the quarter of $17.1 million, or $1.03 per share, increased 33% compared to $12.8 million, or $0.77 per share recorded in 2011. The increase resulted mainly from higher sales volumes in all three segments.