Columbus McKinnon Corporation (CMCO) reported its financial results for the second quarter of fiscal year 2022 ending September 30, 2021, which included the acquisition of Dorner Manufacturing Corporation in April.

Including bright spots; strong sales, acquisitions and strategic pricing contributed to 42% of revenue growth; CMBS continued to expand profit margins, gross margin reached a record 36.3%, an increase of 80 basis points; record adjusted gross margin was 36.7%, expanded 230 basis points and strategic pricing, offsetting the inflationary pressure of material costs.

"As we executed the Growth Blueprint 2.0 strategy, the demand for our products remained strong. Our team worked tirelessly to respond to supply chain challenges agilely and overcome the effects of rapid inflation brought about by price increases," CMCO President/ CEO David Wilson said.

"We believe in the Columbus McKinnon Business System ("CMBS"), which provides a framework for expanding the organization, is becoming stronger and can improve results.

“It’s also worth noting that as we continue to expand in the life sciences, e-commerce, and consumer packaging markets, the acquisition of Dorner lays the foundation for our business model to develop into a higher-growth, less cyclical industry. We hope to take advantage of The further development of this platform will transform our company into a high-value smart sports company."

During the quarter, sales increased by $65.8 million, or 41.7%. The acquisition of Dona increased sales by $33.5 million. In the United States, sales increased by 16.7 million U.S. dollars, or 19.7%, and prices increased by 2 million U.S. dollars, or 2.4%.

U.S. sales related to the acquisition were $27.3 million. Sales outside the United States increased by 9.7 million U.S. dollars, or 13.3%, and prices increased by 2 million U.S. dollars, or 2.7%. The Dorner acquisition increased sales outside the U.S. by 6.3 million U.S. dollars, converted into a favorable foreign currency of 1.9 million U.S. dollars, accounting for 1.2% of total sales.

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