Douglas Dynamics Inc. on Monday reported a fourth-quarter profit
due to higher-than-average snowfall.
The Milwaukee-based maker of snow plows, sand and salt spreaders
said net income was $8.4 million, or 38 cents a share, compared
to a loss of $1.03 million, or 5 cents, a year earlier. Revenue
increase 159 percent to $73 million from $28.2 million, the
"Record fourth-quarter sales signify a continued improvement in
business conditions compared to last year, as snowfall levels
were strong across core markets,” said James L. Janik, president
and chief executive officer. “Our financial results underscore
the importance of our operational excellence and the competitive
advantage of our manufacturing flexibility and supply chain,
which enabled us to adapt efficiently to increased levels of
demand and strengthen our relationships with our dealers."
The company also announced that Janik has been elected chairman.
Janik, who will continue as president and CEO, will succeed
Michael W. Wickham when his term expires at the 2014 annual
The board also appointed James D. Staley as its lead independent
director, according to a statement.