Bloomberg — Trencher Construction Equipment, Construction Drawing Equipment at Trenchers Construction Equipment siteIn a sign of the growing number of job losses at the company, the latest quarterly employment report revealed that its construction equipment business lost a net 5,000 jobs in the first nine months of the year.
The company reported net losses of $2.1 million for the quarter ending June 30, compared to net losses for the same period a year earlier, which were $1.9 million.
Trexco is in the midst of a $60 million takeover of a stake in Trencher’s construction equipment operations, including equipment for construction.
Trexcom reported that construction equipment sales fell 4.3 percent to $7.3 million, or $1,700 per worker, in the nine months through June 30.
The company reported a net loss of $1 million in the same time period last year.
Trenchers shares closed up 2.4 percent at $19.93 in early trading, up $4.10.
The stock rose $2 in after-hours trading to $18.57.