Manitowoc 2Q Sales Exceeds $1b

According to reports, Manitowoc Co. reported its second-quarter net sales totaled $1.02b. It's the first time that the company's quarterly revenue exceeded $1 billion, the company said. Its second quarter, which ended June 30, saw an increase of 37 percent from last year. Reported earnings per diluted share were $1.53 for the second quarter compared with 67 cents for the second quarter of 2006.

The company reported gains in its crane business, which increased 41 percent to $805.1 million, up from $570 million a year ago. Gains also were reported in its food service business, which increased 13 percent. Source: Green Bay Gazette