Farm Equipment
Farm Equipment's Dealership Minds: Vanderloop Equipment, Profile of a Successful Dealership
Alamo Group's net sales for the second quarter of 2019 were $285.2 million compared to $257.1 million in the second quarter of 2018, an increase of 10.9%. Net income for the quarter was $20.7 million, an increase of 10.1%.
For the first 6 months of 2019, net sales were $547.1 million compared to $495.2 million in the previous year 6 month period, an increase of 10.5%. Net income for the first half of 2019 was $35.9 million vs. $33.4 million for the same period in 2018, an increase of 7.7% in net income.
The results for the second quarter and first 6 months of 2019 included the effect of the acquisition of Dutch Power, which was completed in March 2019. In the second quarter of 2019, Dutch Power contributed $14 million to net sales and $0.9 million to net income. For the first 6 months of 2019, they contributed $17.6 million to net sales and $1.1 million to net income. Net sales, net income and earnings per share were all at record levels for Alamo Group for the second quarter and for the first 6 months of 2019, both with and without the effects of the acquisition of Dutch Power.
The company's Agricultural Division net sales in the second quarter of 2019 were $55.2 million compared to net sales of $59.1 million in the prior year's second quarter, a decrease of 6.6%. The division's income from operations for the quarter was $4.2 million compared to…