Hyster-Yale Materials Handling Inc Comments On Q4 2012, FY 2013 Net Income Guidance

Friday, 2 Nov 2012 10:52am EDT 

Hyster-Yale Materials Handling Inc announced that for the fourth quarter of 2012, it expects net income to decline modestly compared with the fourth quarter of 2011 primarily as a result of an increase in income tax expense. Net income in fiscal 2013 is also expected to decline compared with fiscal 2012 due to an anticipated shift in mix toward lower margin products and markets and to an increase in operating expenses as a result of expected increases in marketing and employee-related costs to support the Company's five strategic initiatives and the incremental public company costs the Company will incur as a standalone public entity. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report net income of $70.5 million for fiscal 2013. 

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