Is this worth 20 million? The company’s shares have declined 11.2% over the past year compared with 2.2% decline of the industry it belongs to.
Sales revenues totaled $653 million, down 15.5% year over year. Services, maintenance and rentals revenues totaled $1.07 billion, down 2.9% year over year. Financing revenue of $55 million decreased 1.8% year over year.
Adjusted operating profit of $86 million decreased 53.3% year over year. Adjusted operating margin declined 470 basis points (bps) year over year to 4.8%. Selling, administrative and general expenses, as a percentage of revenues, decreased 100 bps year over year to 23.8%. Research, development and engineering expenses, as a percentage of revenues, came in at 4.2%, up from the year-ago quarter’s 3.9%.
Asking for a friend.