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1ST HALF: BUHLER INDUSTRIES' REVENUES UP 6%, LOSS NARROWS
Buhler Industries reports:

Winnipeg, Manitoba - Revenue for the quarter was $64.6 million, up $4.8 million from the prior year second quarter, representing an 8% increase over the prior year and continuing the sales growth seen in the first quarter. Revenue for the first six months of 2020 was $115.8 million, up $6.7 from 2020, showing a 6% YTD increase in revenue. Demand for products remains strong and the Company is working to increase production for the remainder of the year to meet the growing order backlog.



Net Earnings for the Quarter
The net income for the second quarter was $0.4, compared to a net loss of $(8.5) for the same period in 2020. For the year to date, the net loss was $(3.4), compared to a loss of $(13.9) in the prior year. In the prior year the lower margin and significant foreign exchange losses resulted in the loss.

The Company has made improvements in manufacturing efficiencies, and has managed margin improvement. In addition, lower selling and administration costs, interest expense savings, gains on disposal of assets and favorable exchange rates have all contributed to the favorable results in the quarter over the prior year.


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