In its second quarter results, Skyjack parent Linamar posted an 18.9-percent sales increase in the second quarter of 2014, with CAD $1.105 billion (about U.S. $1 billion), compared to $929.4 million for the second quarter last year. The Industrial Division, of which Skyjack is the main component, increased sales by 20.5 percent - or $37.5 million to $220.4 million - in the second quarter compared to last year’s second quarter.
Industrial segment operating earnings in Q2 2014 increased $13.0 million or 52% over Q2 2013. The increase in operating earnings was predominantly driven by increased demand in the access equipment market; productivity and efficiency improvements driven by higher volumes on new products and cost savings initiatives on mature products; and the favorable impact of the stronger U.S. dollar on margins in comparison to Q2 2013; partially offset by management and marketing costs supporting growth.
“We are thrilled to report another outstanding quarter of record results,” said Linamar CEO Linda Hasenfratz. “We continue to deliver double digit growth top and bottom line and delivered another solid performance in margins in all areas driving excellent return on equity for our shareholders. Our strong results are driving continued cash generation even as we invest in our substantial book of business launching, meaning we have a strong balance sheet with maximum flexibility. We are on track for another great year at Linamar and feel very positive about continued strong performance in the future.”