Valmont Industries (NYSE:VMI) Third Quarter Sales Decreased 50% Operating Income Fell 78%.

Valmont Industries (NYSE:VMI), a leading global manufacturer of engineered support structures for infrastructure, mechanized irrigation equipment for agriculture, and a provider of coating services, reported third quarter sales of $434.0 million compared with $494.8 million for the same period of 2008. Net earnings for the third quarter were $40.5 million, or $1.53 per diluted share, versus third quarter 2008 net earnings of $37.0 million, or $1.40 per diluted share.

Free Hot Penny Stocks, an online financial publication, provides investors timely stock market alerts. Free hot penny stocks profiles stock picks that could generate higher returns than average. These penny stocks include stocks with news, chart breakouts or increased volume.

Sign Up Today for our Penny Stock Newsletter

For the first nine months of 2009, sales were $1,388.0 million versus $1,414.2 million in 2008. Valmont's nine-month net earnings were $120.6 million, or $4.59 per diluted share, compared with 2008 nine-month net earnings of $103.9 million, or $3.95 per diluted share. "Outstanding results in the Utility Support Structures Segment along with a slight improvement in the Engineered Support Structures Segment more than offset significant sales and earnings declines in our other segments," said Mogens C. Bay, Valmont's Chairman and Chief Executive Officer. "Profitability in the Utility Support Structures Segment was exceptionally strong due to excellent factory fixed cost and SG&A expense leverage and the benefit of falling steel costs. In the Irrigation Segment, results were significantly lower in sharp contrast to 2008's record third quarter results. Lower crop prices and the outlook for a decline in global farm income in 2009 deterred farmers from purchasing irrigation equipment. In our Engineered Support Structures Segment, sales were slightly higher, largely due to the contribution of acquisitions made after last year's third quarter. Sales and earnings improved in international markets, while North American markets faced continued weakness in commercial lighting and lower sales in wireless communication products. Coatings Segment revenues were lower due to a general decline in manufacturing activity as a result of the U.S. economic recession. In total, consolidated operating income improved 1.4% and was 14.5% of sales, mostly due to the strong earnings contribution from the Utility Support Structures Segment.”

Sign Up for Free Hot Penny Stocks’ FREE Penny Stock Newsletter.

About Us

Free Hot Penny Stocks is a financial website and independent electronic publication that provides information and free penny stock alerts on selected publicly traded companies. We also track small cap companies and other stocks that may be positioned to break out. These penny stocks might have news, increased volume or chart breakouts. These penny stocks that are alerted could generate greater than average returns. Feel free to visit our penny stock forum to discuss other penny stock picks or penny stocks that you might own.

Free Hot Penny Stocks is not a registered investment advisor or broker-dealer. Please do your own Due Diligence before investing in any of the stocks mentioned above. To feature a company on our web site please contact us at the email listed below.

Please click here to read the full disclaimer