Columbus Mckinnon Corporation (NASDAQ:CMCO)

Mr. Tevens concluded, “We expect the positive effects of our facility consolidations to be fully reflected in the second quarter of fiscal 2011. The estimated savings of $13 million to $15 million annually expands operating margin by approximately 250 basis points on flat revenue. However, based on the trends in industrial capacity utilization, we anticipate revenue improvement to accelerate modestly, and order growth throughout the fourth quarter that has continued into the first quarter of fiscal 2011 confirms these expectations. Europe and South America are gaining momentum, and we are beginning to see moderate growth in the U.S. hoist and rigging business. In addition, we are building a product line targeted for Asia as the new management team begins to further penetrate that market.”