Construction and mining equipment maker Terex Corporation has reported a fourth-quarter profit, compared with a year-earlier loss, and said it expects higher profits in 2002.
The Westport, CT, company earned $1.6 million for the quarter, compared with a loss of $700,000 a year ago. The 2000 fourth-quarter results included a loss of $7.3 million for discontinued operations.
Terex’s 2001 fourth-quarter earnings were $4.5 million, excluding restructuring charges and special items. Net sales for the quarter were $444.2 million, down from $446.6 million a year earlier. The company said it expects the second half of 2002 to be stronger than the first half, with the first quarter the weakest of the year.
