Gehl Reports 3Q Gains, Losses

Gehl Company has posted a net loss of $903,000 for the third quarter, resulting from costs the Wisconsin-headquartered manufacturer assumed in the process of closing two of its factories.

By the year’s end, the company plans to sell the Lebanon, Penn., and Owatonna, Minn., facilities now closed according to a previously announced initiative.

“The disposals of the facilities will conclude our plant rationalization program, which has resulted in improved overall operating efficiencies, and will enable us to eliminate the ongoing upkeep and carrying costs associated with these facilities,” outlined William Gehl, chairman and CEO of the company.

On a brighter note, Gehl’s net sales were $60.5 million in the quarter – that’s an 11-percent increase over last year’s net sales figure for the same period.
And in its construction equipment segment, the manufacturer saw a 23-percent increase in net sales over last year’s figures for the third quarter. Sales totaled $38.8 million. Contrastingly, Gehl’s agricultural equipment segment saw decreasing sales figures.

The author is Assistant Editor-Internet of Lawn & Landscape magazine and can be reached at aanderson@lawnandlandscape.com.