Finning Reports 2012 Q1 Results
May 8, 2012
Q1 2012 HIGHLIGHTS
- Revenue increased by 16% to $1.5 billion as market conditions remained robust in all regions and product support revenues reached a new record.
- EBIT margin was 6.7% compared to 8.4% in Q1 2011 and 5.9% in Q4 2011. Significantly stronger results from South America and UK & Ireland were offset by a lower EBIT margin in Canada compared to Q1 2011.
- Basic EPS was $0.39 compared to $0.42 in Q1 2011 and included ERP related costs in Canada of approximately $0.09 per share.
- Order intake was strong, and the backlog grew by 11% from the end of December to $1.6 billion.
- The Company raised its quarterly dividend by 8% to $0.14 per share, reflecting its confidence in the outlook and expectation for strong earnings growth over 2011.
For the complete results: View Q1 Results