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CAVO INTELLIGENT MOTION Immediate Release ● BUFFALO , NY , October 28 , 2021 - Columbus McKinnon Corporation ( Nasdaq : CMCO ) , a leading designer , manufacturer and marketer of intelligent motion solutions for material handling , today announced financial results for its fiscal year 2022 second quarter , which ended September 30 , 2021 . Results include the addition of Dorner Manufacturing Corporation , which was acquired on April 7 , 2021 . Second Quarter Highlights ( compared with prior year period ) 42 % revenue growth driven by strong volume , contribution of acquisition and strategic pricing ● ● News Release 205 Crosspoint Parkway Buffalo , NY 14068 Columbus McKinnon Reports Financial Results for Second Quarter Fiscal Year 2022 ● CMBS enables continued margin expansion resulting in record gross margin of 36.3 % , up 80 basis points ; record adjusted gross margin of 36.7 % expanded 230 basis points Strategic pricing more than offset material cost inflation pressure Achieved net income of $ 15.2 million , or $ 0.53 per diluted share ; adjusted earnings per diluted share was $ 0.74 Adjusted EBITDA was $ 36.0 million , or 16.1 % of revenue up 270 basis points Generated $ 25.3 million in cash from operations or $ 22.2 million in free cash flow¹ David Wilson , President and CEO of Columbus McKinnon , commented , " Demand for our products remains strong as we execute our Blueprint for Growth 2.0 strategy . Our team has worked tirelessly to address supply chain challenges with agility and has overcome the impacts of rapid inflation with additional price increases . We believe the Columbus McKinnon Business System ( “ CMBS " ) , which provides the framework to scale the organization , is becoming more robust and enabling improved results . Also of note , the Dorner acquisition has provided a foundation to evolve our business model into higher growth , less cyclical industries as we continue to expand in the Life Sciences , E - Commerce and Consumer Packaging markets . We expect to leverage this platform to further transform our Company into a high value , intelligent motion enterprise . " ¹ Free cash flow is a non - GAAP measure defined as cash from operations less capital expenditures . See the accompanying discussion and reconciliation found in the Additional Data table in this release .