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.
