Buhler Industries, which makes Versatile tractors and Farm King equipment, had lower profits in the year ending Sept. 30.
The Winnipeg-based farm equipment manufacturer posted profits of $8.2 million, or 33 cents a share, down from $14.4 million, or 57 cents a share, the year before, the company said in a news release.
Revenue was $209.6 million, down from $284.1 million a year ago.
A reduction in overseas tractor sales due to a credit crisis in Russia, Kazakhstan and Ukraine and a stronger Canadian dollar contributed to the sales decrease. Short-line sales were strong.
In 2010, the company acquired auger maker Feterl in Salem, South Dakota, which added new products to the grain handling line.
Recently, the company announced a partnership with Westeel.
Under the deal, Buhler will sell grain bins under the Farm King name in the United States, while Westeel will sell Farm King augers under its name in Canada.
Buhler said sales of sprayers are expected to be strong in the new year and sales of Versatile tractors are anticipated to increase.
