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Posted April 26, 2016

Parker sees 11 percent sales decline

Parker Hannifin said its fiscal 2016 third quarter sales decreased 11% to $2.83 billion compared with $3.16 billion in the same quarter a year ago.


Fiscal 2016 third quarter net income was $187.1 million compared with $285.5 million in the third quarter of fiscal 2015. Fiscal 2016 third quarter earnings per share were $1.37 compared with $2.02 per share in the prior year quarter. 

Diversified Industrial Segment: North American third quarter sales decreased 13% to $1.25 billion and operating income was $202.2 million, compared with $235.5 million in the same period a year ago. International third quarter sales decreased 11% to $1.02 billion and operating income was $105.2 million, compared with $139.5 million in the same period a year ago.

Aerospace Systems Segment: Third quarter sales decreased 2% to $561.0 million and operating income was $84.2 million, compared with $73.3 million in the same period a year ago.

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