CNH has announced a second quarter net income of $228 million – a 55 percent increase and the highest in the company’s history.
The second quarter results included restructuring charges of $19 million compared to $7 million in the second quarter of last year. Net income reached $247 million, which is up 60 percent compared with $154 million the previous year.
Second quarter diluted earnings per share were 96 cents, compared to 62 cents in 2006.
Harold Boyanovsky, president and chief executive officer of CNH, attributes the company’s successful quarter to growth in CNH’s equipment operations gross margin and from reaffirming the industrial operating margin target.