Nacco Earnings Drop
Aug 7, 2009
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Nacco Industries Inc., parent of small appliance OEM Hamilton Beach, said its net income in 2Q fell 30%, to US$1.6 million from $2.3 million in 2Q 2008.

Sales fell 42.5%, to $545.2 million from $948.1 million.

Its Hamilton Beach small appliance business and Kitchen Collection retail stores "are likely to continue to decline during the remainder of 2009 as consumers struggle with high unemployment rates and lower income levels," the company said.

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