Parker finishes record quarter
Parker Hannifin Corporation reported that its fiscal 2015 second quarter sales were $3.13 billion, compared with $3.11 billion in the prior year quarter.
Net income was $267.3 million, a 6 percent increase compared with $253.4 million in the same quarter last year. Adjusted earnings per share were $1.84, compared with $1.30 in the prior year quarter.
"This was a record quarter for Parker as we continue to execute very well in fiscal 2015," said chairman, CEO and president, Don Washkewicz. "While currency headwinds were significant, this was offset by solid organic growth of 4%. Our year-over-year segment operating margins improved by 150 basis points, primarily reflecting strength in our Diversified Industrial North America businesses and improvement in our Aerospace Systems segment."
Diversified Industrial Segment: North American second quarter sales increased 5 percent to $1.4 billion, and operating income was $226.9 million compared with $200.6 million in the same period a year ago. International second quarter sales decreased 7 percent to $1.2 billion, and operating income was $136.5 million compared with $134.2 million in the same period a year ago.
Aerospace Systems Segment: Second quarter sales increased 11 percent to $558.4 million, and operating income was $66.8 million compared with $45.0 million in the same period a year ago.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
