GETZVILLE, N.Y. (AP) _ Columbus McKinnon Corp. (CMCO) on Thursday reported a fiscal first-quarter loss of $3 million, after reporting a profit in the same period a year earlier.
The Getzville, New York-based company said it had a loss of 12 cents per share. Earnings, adjusted for one-time gains and costs, were 7 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The maker of materials handling products and systems posted revenue of $139.1 million in the period.
For the current quarter ending in October, Columbus McKinnon said it expects revenue in the range of $150 million to $160 million.
Columbus McKinnon shares have decreased 14% since the beginning of the year. The stock has dropped 14% in the last 12 months.