SCHOLFLOCH, GERMANY – Homag Group, represented in the U.S. by Stiles Machinery Inc., reported first quarter sales revenue of approximately $203.1 million, up 38.7% from the $146.4 million recorded in the same period last year.

"Although we have not yet returned to the level of order volume seen at peak times, we are very happy with our start to the year,” said Homag CEO Rolf Knoll. "What is most important for us is that our customers' willingness to invest has continued to grow, and that we are currently getting a positive response to and high demand for our products at trade fairs.”

Homag’s headcount as of March 31, 2010 came to 4,956, compared to 5,387 employees on March 31, 2009. "The upturn in business has meant that we had to cut 300 fewer jobs than originally feared,” Knoll said.

Looking ahead, Homag’s management board said that its sales revenue and total operating performance should increase by at least 15% to about $738.2 million. The management board continues to expect a small net profit for the current fiscal year.

Read Homag's press release.

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