MSA Announces Record 3Q Sales
MSA announced record third quarter 2008 sales this morning and strong results across the board, including a 23 percent gain in European and international sales. CEO William Lambert announced "the strongest third quarter in MSA history," calling it "especially satisfying in the current economic environment." Net sales rose by 15 percent to $285.9 million, and net income increased by 7 percent to $17.9 million.
Lambert said the results are "the result of our continuing focus on our core business and our ongoing efforts to expand our geographic market reach, particularly in the European and international segments. I believe that by focusing on the strengths in our core products and markets, we will continue to make significant progress during the remainder of 2008 and in future years."
Sales in North America rose by 9 percent to $140.8 million, with SCBA sales up by $15.3 million in the quarter. Shipments of gas masks and communication devices were down by $4.1 million and $2.5 million, respectively, the Pittsburgh-based company announced.
International sales totaled $72.3 million, and European sales were $72.8 million. MSA said the increase in international sales was primarily in South Africa and Latin America, where local currency sales were up by $4.8 million and $4.1 million, respectively.