Fiscal 2013 sales grew about 10 percent at Omaha-based Valmont Industries Inc., which recorded a 19 percent increase in profits on the year.
Valmont reported total sales of $3.3 billion in 2013 and a profit of $278.5 million.
Fourth-quarter sales of irrigation equipment fell just 6 percent from a record-breaking performance a year ago. Quarterly earnings per share fell from $2.43 to $2.04 because of Valmont's sale of shares of South Africa-based Delta EMD.
For fiscal 2013, Valmont achieved record sales in all segments thanks to historic revenue in the company's utility support structures segment, which supplies steel and concrete structures for electric utilities across the world, as well as in its metal coatings segment.
Mogens C. Bay, chairman and chief executive officer at Valmont, said the company expects irrigation sales to drop in the first quarter. That segment has been fueled in recent quarters by drought conditions across the world.
Meanwhile, a decline in global utilities projects is expected to keep utilities segment revenue flat.
“We are facing a challenging first-quarter comparison in light of last year's 47 percent first-quarter earnings improvement,” Bay said.