Columbus McKinnon Corp. (NASDAQ:CMCO) is a leading designer, manufacturer and marketer of materials handling products. With approximately 62% of the U.S. market by net sales and no single product SKU accounting for more than 1% of sales, the company has built a highly successful and diverse domestic business with strong competitive advantages in terms of well-known brand names and significant economies of scale.
While top-line revenue growth appears to have slowed down to just 0.9% in FY2013, a closer look reveals that the results were skewed by net acquisition/divesture activity, unfavorable foreign currency translation and fewer shipping days. Revenues actually improved 5.4% year over year adding back in these elements, with operating income growing 20.4% and diluted earnings...
|FREE||SA PRO MEMBERS|
|IDEA GENERATOR||X||Exclusive access to 10 PRO ideas every day|
|INVESTING IDEAS LIBRARY||X||Exclusive access to PRO library of more than 15,000 ideas|
|SECTOR EXPERT NETWORK||X||Exclusive access to all sector experts for direct consultation|
|PERFORMANCE TRACKING||X||Track performance of all PRO stock ideas|
|PROFESSIONAL TOOLS||X||Professional Idea Filters to zero-in based on industry, market cap and more|