Revenue for the year was $195.3 million, up 8.9% from sales of $179.3 million in 2019. The Company’s increased sales levels are as a result of dealers reducing field inventory in the previous year, strong harvest conditions and crop yields.
Manitou, manufacturer of equipment for agriculture, construction and other industries reported its first quarter revenues in 2020 down 25% to €421 million ($455 million) from €562 million ($608 million) in the first quarter of 2019.
Consolidated corporate sales for the three-month period ended Feb. 29, 2020 were $5,026,000 compared to $4,124,000 during the same period in fiscal 2019, an increase of $902,000, or 21.9%. The increase in consolidated sales is due to increased sales across all three segments.
Operating revenues for the three months ended Feb. 29, 2020 were $113.8 million, an increase of 4% compared to $109.2 million for the three months ended Feb. 28, 2019. Irrigation segment revenues decreased 4% to $92.1 million and infrastructure segment revenues increased 62% to $21.7 million.
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There was plenty of technology on display at the World Dairy Expo in Madison, Wis., a few weeks ago. Farm Equipment editor Mike Lessiter caught up with Monarch Tractor’s John Issacson and got his take on the top 5 applications in autonomy right now.