Manitowoc's third-quarter profit rises; revenue climbs 29% |
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Wed, 31 Oct 2007 23:20
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SAN FRANCISCO (Thomson Financial) - Manitowoc Co. late Wednesday reported third-quarter net earnings of $75.9 million, or 59 cents a share, or earnings before special items of $84 million, or 65 cents a share.Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 63 cents.In the same period last year, the company posted a net profit of $50.4 million, or 40 cents a share, or earnings before special items of $51.8 million, or 41 cents a share.Revenue in the period ended Sept. 30 rose 29% to $1.01 billion, above the consensus estimate of $974 million.The Manitowoc, Wis.-based provider of lifting equipment increased its 2007 earnings guidance to a range of $2.45 to $2.50 a share, excluding special items, or net earnings of $2.40 to $2.45 a share.Analysts currently expect a 2007 per-share profit of $2.47.Manitowoc shares rose $1.75 to close the regulare session at $49.26.Gabriel MadwaygmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Pharmaceuticals and chemicals highlights to 15:40 GMT 