Baldor Electric Co. (NYSE: BEZ, an efficient motor manufacturer, reported Q1 profits increased 26%, boosted by strong motor sales, and most notably strong sales of Super E high-efficiency motors.
Income for the quarter was also up 26% to $11.4 million, or 34 cents per share. Revenue for the quarter was $192.3 million, up 13% from $170.6 million from a year earlier.
The company plans to invest $20 million in its plants this year, up from $19.3 million last year, adding it may need to raise prices if copper and aluminum prices remain high.
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