Manitowoc Announces Record Setting Net Sales and Earnings Jul 31, 2007

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The Manitowoc Company reported outstanding results for the quarter ended June 30, 2007, setting records for net sales, earnings per share, and backlog. For the quarter, net sales totaled US$1.019 billion, the first time that the company's quarterly revenue exceeded $1 billion, which is an increase of 37% from the second quarter of 2006. Reported earnings per diluted share were $1.53 for the second quarter of 2007 compared to $0.67 for the second quarter of 2006.

In the company's Foodservice Group, second-quarter 2007 net sales increased 13% to $128.0 million from $113.3 million in the second quarter of 2006. Operating earnings for the second quarter of 2007 were $22.4 million, an increase of 26% from the same period in 2006.

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