EDMONTON, Alta. — Raydan Manufacturing has continued on its record-setting pace, reporting new highs in net income and revenue for the first quarter which ended July 31, 2004.
The company manufacturers the Air Link air ride walking beam suspension which has enjoyed increasing success in all targeted markets. It’s the suspension of choice in the crane market and on a wide range of vocational trucks as well as fire and rescue trucks. The company says it is continuing to broaden its reach by pursuing new endeavors as well.
In the first quarter Raydan saw revenues skyrocket 80 per cent to $2.7 million. That compared to $1.5 million over the same time last year. Net income was $299,484 compared to a loss of $22,226 over the same time last year. Meanwhile, revenue from manufactured products such as the Air Link jumped 122 per cent and unit sales doubled.
“We are thrilled with our continued successes in all targeted market segments,” said Raydan president Ray English. “Our sales and engineering breakthroughs have resulted in the Air Link suspension becoming standard equipment at the front and rear end with all major crane manufacturers, available at the factory level with Mack Trucks, Inc., and International Truck and Engine Co. and other specialty OEMs in the fire/rescue and construction industries. Following an excellent fourth quarter, these financial results once again demonstrate that Raydan is able to enter and dominate each target market with a superior product. Going forward, we are confident we will continue to post increasingly significant OEM and market segment gains.”
The company recently announced it was expanding its Nisku, Alta. plant and has added a second shift at its manufacturing facility.
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