Cascade Corp., which makes forklift attachments, hydraulic cylinders and other loading gear, said on Monday that it earned almost $5.7 million during the first quarter, after losing money during the same period last year.

Cascade said its profit worked out to 51 cents per share for the quarter that ended April 30, up from a loss of almost $12.1 million, or $1.12 per share, a year earlier, when it sustained large expenses for a European restructuring.

Revenue rose 24 percent to $94.4 million from $76.3 million.

Analysts surveyed by Thomson Reuters on average expected a profit of 21 cents per share on revenue of $83.8 million.

The company said the market for lift trucks is recovering, based on orders it's receiving.

"However, it is difficult to predict with certainty how quickly and to what extent the markets will continue to recover," the company said.

Cascade expects sales in North America to increase 5 percent to 10 percent and in Asia 10 percent to 15 percent for the rest of this fiscal year. The pace of recovery in Europe is uncertain because of the debt crisis there.

Before the results were released, Cascade shares fell $2.29, or 7.7 percent, to close at $27.54.