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Douglas Dynamics (PLOW) |
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Douglas Dynamics (PLOW) (NYSE:PLOW) manufactures and sells snow plows for light trucks. It also offers salt and sand spreaders, and its customers are located in Canada and USA. Many of its customers are professional snowplowers who are hired to clear streets in municipalities, commercial, and residential areas. The company has over 500,000 snowplows in service. The company is beginning to expand its reach into Northern Europe and Asia. [1]
The demand of sales for equipment controlling snow and ice depend on the replacement cycle, meaning how long does the equipment last. Typically when there is a large snowfall or ice in a given year, the next year will have increased sales. This is due to the wear and tear for controlling the snow and ice, decreasing the useful life of the equipment. [1]
The company's initial public offering of stock filed on the NYSE exchange and went public on 4 May 2010. It was priced at $11.25, within the proposed offer price range of $14.00-$16.00. The company is offering 10 million shares and raising $112.5 million. [1]
In FY2009 with year ended 31 December 2009, the company had net sales of $174.3 million, up from $180 million of net sales in FY2008. Furthermore, the company had $9.84 million in net income for FY2009, down 14.2% from $11.5 million in net income for FY2008. The net sales were distributed with 85% in equipment sales and 15% in parts and accessories sales. [1]
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