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Archive for Thursday, August 4, 2005

Sauer-Danfoss posts record sales

August 4, 2005

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Sauer-Danfoss Inc., a manufacturer of power systems for mobile equipment, reported record sales for its second quarter Wednesday, citing strong growth in North America.

The company, which employs 250 people at a plant in the East Hills Business Park, reported net sales of $438.1 million during the three months ended June 30, up 16 percent from sales of $379.1 million for the same period last year.

But Sauer-Danfoss' net income for the quarter was $19.6 million, or 41 cents per share, compared to a record $21.6 million, or 46 cents per share a year earlier.

Company officials cited increasing costs for meeting the growing sales, including the transferal of production to North American sites. The Lawrence plant currently is adding equipment that had been in Denmark for production of motors for use in zero-radius mowers.

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