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Columbus McKinnon's profits beat analyst forecasts

Columbus McKinnon's second-quarter profits topped analyst forecasts, rising by 27 percent as the company's efforts to reduce costs and focus its resources on the strongest parts of its business paid off.

The Amherst material handling equipment maker said it earned $15.9 million, or 68 cents per share, during the quarter that ended in September, up from $12.5 million, or 55 cents per share, a year earlier. Excluding one-time items, Columbus McKinnon earned 70 cents per share, easily topping analyst forecasts of 61 cents per share.

The company's sales rose 2 percent to $217 million from $213 million.

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