Nacco Industries, Inc. announced consolidated net income for the first quarter of 2008 of US$2.7 million, or $0.33 per diluted share, on revenues of $865 million compared with consolidated net income for the first quarter of 2007 of $6.6 million, or $0.80 per diluted share, on revenues of $803.9 million. The company reported a decrease in consolidated net income for the 2008 first quarter compared with the prior year.
Hamilton Beach’s net loss was $2.8 million in 2008, compared with a net loss of $0.1 million in 2007. The company said that “The economic environment continues to be very uncertain at this time for the consumer markets in which Hamilton Beach and Kitchen Collection participate and the capital goods markets in the United States in which NMHG participates. North American Coal and Hamilton Beach are likely to continue to have very difficult operating environments in 2008, which in turn are expected to lead to significantly reduced results in those businesses compared with 2007.”