Worldwide industrial services company Harsco Corporation has reported record first quarter 2007 results from continuing operations.
First quarter 2007 income from continuing operations was a record $45.4 million, compared with $32.6 million last year, also an increase of 39 percent. Overall operating margins improved by 80 basis points to 10.3 percent from 9.5 percent in last year's comparable period.
First quarter sales totaled a record $840 million, up 23 percent from sales of $682 million in the same period last year. Foreign currency translation increased first quarter sales by $36.6 million and pre-tax income by $1.8 million.
Commenting on the company's results, Harsco chairman and chief executive officer Derek C. Hathaway said, $quot;We are once again pleased with the strong start to a new fiscal year. Perhaps most significant is the success of our continuing strategic efforts to focus the company in market-leading industrial services on a global basis. We are confident in our ability to continue to build on our successes in this regard, and add to future growth in stockholder value.$quot;