Parker sales and earnings decline
Parker Hannifin Corporation reported fiscal 2013 third quarter sales declined 2.6% to $3.30 billion compared with $3.39 billion in the prior year quarter.
Acquisitions contributed 4 percent which was offset by a 6 percent reduction in organic sales. Net income fell by 18% to $256.6 million, or $1.68 per share, compared with $312.7 million, or $2.01, in the third quarter of fiscal 2012.
"The fundamentals of our business remain very strong despite a mediocre global economic environment," said chairman, CEO and president, Don Washkewicz.
In Industrial North America, third quarter sales decreased 2.4 percent to $1.28 billion, and operating income was $209.0 million compared with $227.0 million in the same period a year ago.
In Industrial International, third quarter sales decreased 3.5 percent to $1.24 billion, and operating income was $152.3 million compared with $195.1 million in the same period a year ago.
In Aerospace, third quarter sales increased 6.5 percent to $578.0 million, and operating income was $80.1 million compared with $65.9 million in the same period a year ago.
In Climate and Industrial Controls, third quarter sales decreased 18.0 percent to $203.9 million, and operating income was $21.3 million compared with $23.2 million in the same period a year ago. These results reflect the impact of a business divestiture in the fiscal 2013 second quarter.
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.
