Manitex International, Inc. Reports Third Quarter 2013 Results

Manitex International, Inc. (Nasdaq: MNTX), a leading provider of engineered lifting solutions including boom truck and rough terrain cranes, rough terrain forklifts, special mission oriented vehicles, container handling equipment and specialized engineered trailers, today announced third quarter 2013 results.

Third Quarter 2013 Financial Highlights:

   -- Net revenues of $57.5 million rose 8% compared to $53.4 million in the 
      prior year's quarter and declined 8% compared to the record second 
      quarter 2013 revenues of $62.6 million. 

   -- Net income of $2.6 million or $0.21 per share, increased 4.7% compared to 
      $2.5 million and $0.21 per share for the prior year's quarter. Excluding 
      costs associated with the acquisition and financing of Sabre that was 
      completed in the quarter, net income was $2.8 million or $0.23 per share. 

   -- EBITDA(1) for the third quarter 2013 increased 5.1% to $5.6 million, 
      equal to 9.8% of sales, compared to $5.3 million and 10.0% of sales for 
      the same period in 2012. 

   -- Consolidated backlog at September 30th, 2013 was largely unchanged at 
      $96.7 from June 30, 2013. 

Other Highlights

   -- Completed the acquisition of Sabre Manufacturing on August 19, 2013 for 
      total consideration of $14 million. 

   -- Completed new multi-lender North American $64 million revolving credit 
      facilities, including Comerica Bank, Fifth Third Bank and HSBC. 

   -- Completed a registered direct equity offering for 1.4 million shares with 
      net proceeds of $14 million, which was used to repay debt. 

   -- Subsequent to the quarter's end, reached agreement in principle to 
      acquire Valla SpA of Piacenza, Italy. Valla recorded $7.5 million in 
      revenues in 2012.