DUESSELDORF (dpa-AFX) - Demag Cranes AG (DMGCF.PK) reported net income after tax of 7.4 million euros for the first quarter, higher than 6.9 million euros reported a year ago. Earnings per share advanced 6.2% to 0.34 euros from 0.32 euros. Quarterly revenue climbed 16.7% to 269.9 million euros from 231.2 million euros in the comparable quarter a year earlier. Order intake for the quarter was 290.4 million euros versus 284 million euros last year. Going ahead, despite the present uncertainties, the company continues to anticipate further revenue growth for the current financial year. Demag Cranes said it plans to generate Group revenue of around 1.1 billion euros in financial year 2011/2012. Also, the company noted that for financial year 2011/2012, it projects an operating EBIT margin of roughly 9.5% given attainment of the revenue targets, although this is ambitious against the background of the uncertain general conditions.
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