Addison, IL, August 2-- Floor-care equipment and chemicals manufacturer Minuteman International reported increased sales and net income for the second quarter of 2004 compared with the second quarter of 2003.
The company also reported that backlog of orders is running approximately double the level of June 30, 2003.
In the quarter the company reported revenues that rose 9.4 percent over the like period last year, to $21,067,000 from $19,258,000.
Net income for the second quarter of 2004 reached $1,074,000, or $.30 per share, an increase of 64.2 percent over the $654,000, or $.18 per share, reported for the same quarter of 2003.
Gregory J. Rau, president and CEO, attributed the enhanced performance in the second quarter of 2004 to better demand from commercial dealers, a 13.6 percent increase in industrial sales domestically, a 29.6 percent boost in international revenues (27.5 percent excluding currency effects), and increased volume in chemical sales.
