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Article: The Manitowoc Company Reports Third-Quarter Financial Results.

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PR Newswire
Article date:
October 29, 2009
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- Foodservice integration on track, synergies pacing ahead of schedule - Crane segment initiatives positioning company for next market upturn - Strong cash flow enables company to reaffirm its full-year debt reduction target of $450 million

MANITOWOC, Wis., Oct. 29 /PRNewswire-FirstCall/ -- The Manitowoc Company, Inc. today reported sales of $881.5 million for the third quarter of 2009, down 20 percent from $1,106.8 million in the third quarter of 2008. The sales decrease was due primarily to a 52 percent decline in crane sales, partially offset by the additional revenues related to the acquisition of Enodis plc in October 2008.

On a GAAP basis, the ...

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