Columbus McKinnon's third-quarter loss narrowed as the Amherst-based material handling equipment maker's sales rose by 4 percent.
Columbus McKinnon lost $800,000, or 3 cents per share, during the quarter that ended in December, compared with a loss of $10.6 million, or 46 cents per share, last year. In both years, the losses were caused by write-downs in the value of businesses that Columbus McKinnon wants to sell.
Excluding one-time items, Columbus McKinnon's adjusted profits rose by 39 percent to $14.5 million, or 61 cents per share, from $10.4 million, or 44 cents per share, a year ago. The earnings topped analyst estimates by 3 cents, according to Zacks Equity Research.
Sales rose to $73.4 million from $68.7 million, mostly from rising revenue in the U.S.