05:25 PM EDT, 08/14/2024 (MT Newswires) -- Buhler Industries ( BIIAF ) on Wednesday said its second-quarter fell 55% but said an improved supply chain helped it to lift revenues for the period and will continue to do so for the remainder of the year.

The agricultural-equipment manufacturer said it earned $7.2 million, or $0.29 per share, in the period, down from $16.1 million, or $0.64, in the year-prior quarter.

Revenue rose 16% to $78.3 million from $67.6 million.

Looking forward, Buhler said sales for the remainder of the year are projected to be higher as the company continues to improve problems associated with supply chain issues. It noted the company was acquired by ASKO Holding unit ASKO Sinai at the end of 2023 and the company continues to receive full support from the company to reach its sales growth and return to profitability. Margins are projected to improve in 2024 over 2023 as a result of operating efficiencies stemming from increased shipments and cost reductions taken during the year, it added.

Buhler shares last traded Aug.8, closing at $2.05 on the Toronto Stock Exchange.