Buhler Industries Reports 3rd Quarter Earnings
Winnipeg, Manitoba
July 18, 2002

3 months to June 30, 2002 Previous year
Revenue $70,976,000
$48,624,000
Net profit $5,059,000
$2,150,000
Net profit / share $0.22 $0.09
9 months to June 30, 2002 Previous year
Revenues $194,275,000
$142,206,000
Net profit $11,840,000
$6,033,000
Net profit / share $0.51 $0.25

Net Earnings Up

Third quarter earnings increased to $5.1 million or $0.22 per share, compared with $2.2 million last year or $0.09 per share. Year to date earnings increased by 96.3% to $11.8 million compared with $6.0 million last year. The number of shares outstanding is 23.2 million compared to 24.5 million last year.

Revenue Up

Third quarter revenue increased to $71.0 million compared with $48.6 million last year. Year to date revenue is up 36.6% to $194 million compared with $142 million last year.

Outlook

During the previous two quarters, the Company has reported that the tractor factory has unexpectedly been supplying tractors to the new Buhler tractor dealers, as well as to CNH. This has resulted in greater than anticipated revenue. As forecasted, the CNH volume is expected to decrease during Q4, resulting in more normalized revenue going forward. The core products manufactured by factories other than the tractor factory are continuing to show increased revenue and net earnings. The purchase of the factory in Fargo is expected to allow a further increase in the short line products.

Complete Financial Statement

Contact

Craig Engel - President
Phone: (204) 228-6206
E-mail: cengel@buhler.com

Trading symbol: BUI

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