Gehl Releases Fourth Quarter Financials

Gehl Co., West Bend, Wis., has released its fourth quarter and full year financial reports for 2007.

The company has reported 2007 income from continuing operations of $24.9 million on net sales of $457.6 million, and fourth quarter income from continuing operations of $4.7 million on net sales of $102.2 million.

Net sales for full year 2007 were $457.6 million compared with $486.2 million for 2006, a decrease of 6 percent. Sales outside the U.S. were $131 million or 29 percent of total company sales, for 2007, an increase of 31 percent compared to 2006.

Continuation of market share gains in the company’s two primary product categories, skid steers and telehandlers, strong agricultural markets and growth of the company’s international distribution footprint partially offset the impact of weather North American residential construction activity and lower capital investments by equipment rental companies.

Although industry retail demand in North America for skid loaders and telehandlers was down 8 percent and 28 percent respectively for the full year 2007 compared to 2006, the company’s retail performance continued to reflect market share gains in these two key product categories as its skid loader and telehandler retail settlements decreased only 3 percent and 9 percent respectively.

The company does not anticipate that North American housing conditions will improve appreciably in 2008. While the company anticipates continued growth in the international markets, current forecasts anticipate that the North American compact equipment markets will decline 10 to 30 percent in 2008, carrying by product category.

The full financial report is available by visiting Gehl at www.gehl.com.