Baldwin back in black and doing well in the region

According to Peter Tkachuk, regional manager, there is a renaissance in demand for the company’s products as customers respond to the new-look Baldwin. “We’ve had a very good year in Australia and New Zealand, as well as in Asia, especially with our press dampening and cleaning products.

“The market recognises the Baldwin standard for quality and the OEMs still regard us as the benchmark for press ancillaries,” he said.

“The increasing importance of OH&S and environmental concerns, as well as the need for improved quality means we are finding people willing to engage with us, despite tough market conditions.”

Internationally, Baldwin sales for the financial year to June 30, 2004 were US$158.1 million versus $134.2 million for the previous year ended, an increase of almost 18%. Income for the quarter ended June 30, 2004 was $4.4 million, compared to a net loss of ($4.5 million) or ($0.30) per diluted share for the same quarter in the prior fiscal year.

For the full year, the Company recorded net income of $7.0 million, which represented an improvement of $18 million when compared to the prior year. Orders for the fourth quarter were $34.5 million. Due to stronger than expected shipments, the company's backlog declined to approximately $45 million, down from $49.7 million the previous year. Strong order intake since year-end has improved current backlog to approximately $47 million.

Gerald Nathe, chairman and president of Baldwin, said: "I am very proud of the contributions of the Baldwin employees to the Company's performance this past year. They implemented and executed a range of action plans focused on customers, operations, expenses and financial matters.

“The results of these efforts are reflected in the significant improvement of fiscal 2004 over 2003. Although the global economic recovery remains unsteady, our industry difficult, and our competition formidable, we expect to carry the business momentum forward."