Issue link: http://read.dmtmag.com/i/472117
In last year's letter I wrote the following, "So, where do we go from here? Our goal is to grow the company strategically through existing divi- sions (market share gains and new product devel- opment) along with acquisitions in the industries that we currently serve—infrastructure, energy, and mining." I'm happy to report that we were able to grow the company as a result of market share gains, new products being sold, and one acquisition. Given the markets we serve and the global econ- omy, our sales growth was respectable. We still have opportunities for further growth in sales and in our bottom line. The addition of Telestack in Omagh, Northern Ireland to our family of companies has gone well and they are growing. Our companies will focus on sales and gross margin improvement in 2015. We are benchmark- ing between subsidiaries in more formal ways, continuing our R&D efforts across the board, and LAST YEAR I WROTE TO YOU IN THIS REPORT AS THE NEWLY APPOINTED PRESIDENT AND CEO OF OUR COMPANY. WITH JUST OVER A YEAR IN THE ROLE, I TOOK SOME TIME TO REFLECT ON 2014 AND WHAT LIES AHEAD OF US IN THE COMING YEAR AND BEYOND. IN SUMMARY, I'M EXCITED ABOUT THE STEPS WE ARE TAKING AND EQUALLY EXCITED ABOUT OUR FUTURE. FELLOW SHAREHOLDERS: 2 n ASTEC INDUSTRIES, INC.