Wisconsin Ag Connection - Gehl Company Reports Year-End Sales

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Gehl Company Reports Year-End Sales
Wisconsin Ag Connection - 04/16/2008

The West Bend-based Gehl Company has announced that its year-end sales for the past year totaled $457 million--down six percent from the year earlier. Company officials say total net profits were at $24 million in 2007, also slightly lower than the previous 12 months.

The firm's year-end summary indicated that skid loader and telehandlers sales were up for the year by 12-percent and 16 percent, respectfully. But profits were offset by lower sales in construction products.

"We are pleased to report significant improvement in the company's performance in difficult domestic markets, as reflected by our continued market share gains," said CEO William Gehl. "Gross margin expansion growth of our international sales are positive developments reflecting our global compact equipment strategy, improvements in product research and development and continued emphasis on cost reductions."

For the year ahead, the company says it does not foresee North American housing conditions to improve--which will have a negative impact on construction equipment sales. The cost of steel, operations expenses and higher staff budgets may also drag down earnings for 2008.

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