Manitowoc Crane Group`s earnings soared in the October-December 2006 period to a revenue of $605 mln, up 38% compared with the same period of 2005.
Operating earnings for the fourth quarter of 2006 increased 159 percent to a record $77.6 million, from $30.0 million in the same period last year. The division`s order backlog totaled $1.5 billion at year-end, an increase of 10% from September 30, 2006, and up 77% from December 31, 2005.
"The crane segment continues to drive outstanding financial performance through its global positioning and strong product line," said Terry Growcock, Manitowoc chairman and chief executive officer. "The Crane segment intends to meet the strong demand for its products by focusing on optimizing current facility utilization and by leveraging external resources. The effectiveness of this strategy is shown by the ability to grow the backlog while maintaining delivery schedules that meet customer requirements."
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