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Cascade profit falls in fiscal 1st quarter

By Associated Press
June 5, 2008 | Comments (0)

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Cascade Corp., which makes forklift equipment, said its fiscal first-quarter profit fell from a year-ago period boosted by an insurance settlement.

Net income for the three months ended April 30 fell to $10.9 million, or 98 cents per share, from $23.8 million, or $1.90 per share. The year-ago quarter included an insurance settlement that boosted earnings by 80 cents per share.

Analysts predicted a profit of 92 cents per share, according to a Thomson Financial survey.

Revenue rose to $149.9 million from $135.5 million. Analysts predicted revenue of $145 million.

Shares rose $1.15, or 2.3 percent, to $50.22.

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