Buhler Industries Inc. set a new record for sales in 2011 but earned smaller profits than it did in 2009.
However, profitability and growth are likely to increase in future years as risk management improves and research and development spending continues, the company said in its annual report for 2011, which ended Sept. 30.
“Competitive market and exchange rate pressures were the causes of a decline in margin, but the company still retained an adequate level of profitability,” Buhler Industries president Dmitry Lyubimov said in the report.
Buhler’s revenues hit $284.7 million in 2011, compared to $209.6 in 2010 and $284.1 in 2009. The 2009 financial year contained much of the earnings from the booming agricultural equipment sales of the 2008 calendar year.
Its net earnings of $11.92 million in 2011 were significantly below 2009’s $14.4 million, but much higher than recession-ravaged 2010’s $8.2 million.
A hallmark of Buhler’s new Russian owners has been a heavy commitment to reinvesting company profits in research and development as well as acquisitions.
