The Middleby Corp. reported record net sales and earnings for 2Q ended June 28, 2008. Net earnings US$17,117,000 on net sales of $173,513,000 as compared to the prior year second quarter net earnings of $12,582,000 on net sales of $113,248,000. Net earnings for the six months ended June 28, 2008 were $30,298,000.
The company completed the acquisitions of Giga Grandi Cucine S.r.l. on April 22, 2008 and FriFri aro SA on April 23, 2008.
Selim A. Bassoul chairman and CEO said, “While our food processing business realized lower sales in the first half due to restricted capital budgets at food processing customers, we continue to be excited about the introduction of new products, including the MP Advantage fryer, the MP ServoDrive former, and the IntelliJet water cutter, which we anticipate will begin to gain acceptance in the second half of 2008.”
to Daily News