MSA Posts Record 2Q 2011 Profit
Sales in each segment -- North America, Europe, and international -- rose by 18 percent, 33 percent, and 28 percent, respectively, year-over-year.
Pittsburgh-based MSA reported record sales of $295 million for the second quarter of 2011, saying July 28 that figure was a 24 percent improvement from its $237 million in sales during 2010's second quarter. Net income rose by 66 percent to $20 million year-over-year and $21 million when after-tax restructuring charges were excluded.
The company reported its acquisition of General Monitors increased its 2Q 2011 sales by $14 million in North America and by $8 million in Europe. Gas detection and fall protection organic sales rose in North America, but SCBA sales to the fire service declined there, it said. In Europe, sales of gas detection products rose.
For the six months ending June 30, net sales for the company as a whole were $571.2 million in 2011 versus $449.6 million in 2010, the company reported.
"We continued to see solid growth in our core product groups in both developed and emerging markets in the second quarter. Our performance in the second quarter provides evidence that reinforces our belief in our strategic direction," MSA President and CEO William Lambert said in the company's July 28 news release.