Columbus McKinnon Loss Widens To $39.6 Million (CMCO)

Amherst, New York-based Columbus McKinnon Corporation CMCO released financial results on Friday morning. Columbus McKinnon Corporation reported that its 3rd quarter net loss widened to $39.6 million, or $2.08 per share, compared with a net loss of $2.3 million, or 12 cents per share, a year earlier. Excluding special items, the company's earnings came in at 3 cents per share. Columbus McKinnon Corporation reported revenue of $128.7 million, up 8.2% from $118.97 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 18 cents per share, on revenue of $128.45 million. Columbus McKinnon Corporation (CMCO) closed the previous trading day at $19.72 per share. Analysts covering the company's stock give it a consensus price target of $24.00 per share. Columbus McKinnon Corporation is a leading worldwide designer, manufacturer and marketer of material handling products, systems and services, which efficiently and ergonomically move, lift, position or secure material. Read more from Benzinga's Company news.