The company said its net sales increased 64.5 percent to $155.1 million, compared to net sales of $94.3 million for the second quarter of fiscal 2008. This growth in revenue was due to improved sales from all three of the company's primary revenue sources.
New equipment sales were $90.6 million in the second quarter of fiscal 2009 compared to $61.7 million in the prior year period. Used equipment sales were $38.8 million in the second quarter of 2009, up 188 percent compared to $13.5 million in the second quarter of fiscal 2008.
Revenue generated from product support increased to $24.4 million in the second quarter of fiscal 2009 compared to $16.8 million in the second quarter of fiscal 2008.
The company said it maintained a strong focus on the reduction of aged construction equipment inventory which put pressure on the margins.
Some of the world's biggest equipment manufacturers have already reported earnings losses, reflecting a global drop in demand due to the recession. But most of the impact was seen overseas, with smaller declines in North America.
