JLG announces first quarter 2007 revenue

JLG Industries recently announced 2007 fiscal first-quarter consolidated revenues of $539 million compared to $478 million during the same period last year. Net income for the quarter totaled $40 million, or 37 cents per share, compared to $28 million, or 27 cents per share, for the fiscal first-quarter of 2006. Operating income was $62 million, or 11.5 percent of sales, compared to $50 million, or 10.5 percent, during the same period last year. Cash and cash equivalents were $308 million October 29, compared to $231 million for the previous year.

Fiscal first-quarter 2007 net income included $4.1 million ($2.6 million net of tax), or 2 cents per share, of charges related to the proposed merger with a subsidiary of Oshkosh Truck.

The company’s board of directors declared a dividend on the company’s common stock of $.005 per share. The dividend is payable on December 5 to shareholders of record on November 27.