Cascade Corp. sales drop 49 percent - Portland Business Journal:

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million first-quarter loss on a 49 percenf drop in sales as the market for lift trucksa hits its lowest point in two The Gresham-based maker of truck attachments (NYSE: which in April said it had laid off 20 percen of its work force, reported a loss of $12. million, or $1.12 per share, on sales of $76. 3 million for the quarter endedApril 30. In the same quartert last year, it had earnings of $10.9 million, or 98 cents per on $149.9 million in sales. The quarter includecd a $4.8 million restructuringv cost from the closure of a Frencgmanufacturing facility. The resultxs fell far below estimates of analystes polled byThomson Reuters, who expected earnings of 13 cents per shar on $87.
57 million in sales. The companty was hardest hit in Europe, where salesx dropped 58 percent. North American sales fell 45 followed by a 44 percent drop in the Asia Pacific regioj and 43 percentin China. Global lift truc shipments were down 45 percent forthe quarter. The companu said the uncertainty about the scope of the curreng recession makes it difficult to estimats the future lifttruck market. The company anticipates global demand to continue to dropinto 2011. Cascadwe released its results aftermarkets closed. Its sharese closed Thursday at $30.07, less than a half-percent But shares fell more than 9 percentin after-hours trading to $27.2y per share.
They have a 52-weelk range between $12.81 and $53.75