Omaha, Nebraska-based engineered steel structures producer Valmont Industries Inc. announced its Q4 and fiscal 2011 results on Wednesday. Sales for Q4 in fiscal 2011 were $752.7 million compared to $598.7 million during Q4 of fiscal 2010. Net earnings for Q4 had also increased over the same period in 2010, increasing from $34.9 million to $114.7 million in 2011. For the full-year in 2011, sales were $2.661 billion, which increased from $1.976 billion in 2010. The net earnings for 2011 were $228.3 million--a large increase over the $94.4 million earned during 2010.
Valmont's utility support structures segment had 27 percent of the Q4 sales which came to $202.8 million--a 63 percent increase over Q4 totals in 2010. This rise can be attributed to the multi-year period of investment in the North American electrical grid to substantially increase transmission capacity. The coatings segment--which accounted for 12 percent of Q4 sales--increased sales from Q4 in fiscal 2010 by 11 percent to $88.9 million in Q4 of 2011.
As for the 2012 outlook, Mogens C. Bay, Valmont's Chairman and CEO said, "We expect another strong performance in 2012. Currently we see continued strength in the demand for irrigation equipment, and increasing demand for Utility Support Structures. We expect a continued good performance in our Coatings Segment. Our outlook for the Engineered Infrastructure Products Segment is for increased sales and profitability, but still operating in an environment of fiscal austerity and measured government funding for infrastructure projects in 2012."