John Hanson Continue Quotations

He's a very good mentor. I want to continue what we started in Tom's office in encouraging agricultural entrepreneurship and value-added agriculture issues such as energy. We're off to a great start with the ethanol industry. I think we're at the dawn of an exciting era in agriculture.

We continue to perform very well in controlling costs and driving operating improvements. Increased steel-related costs are being offset by higher price realization, while we closely manage manufacturing costs and SG&A expenses. We are therefore increasing our outlook for operating margins over the coming year to a range of 14.6 to 15.5 percent of sales from the previous outlook averaging 13.3 percent.

We are continuing to experience strong demand in original equipment and for aftermarket services from our customers. Our efforts to increase our capacity to meet their needs have resulted in overall revenues increasing at a dramatic pace. We will continue to take actions necessary to maintain high service levels to our customers and our overall industry leadership position.

We believe that we will continue to experience incoming order rates in excess of quarterly revenues for several quarters, although quarterly bookings will remain volatile. Critical to our success will be the ability to meet the needs of our major customers, alleviate the supply chain constraints restricting revenue growth, and drive increasing operating margins at higher business volumes.

Conditions in our end markets continue to point to an extended, strong global mining cycle. We face the challenge of increasing capacity to meet demand, while managing a tight supply chain.