Rexnord sales climb 19%
Rexnord said its fourth-quarter net sales increased 19% over the prior year to $546 million.
Net income was $9 million and adjusted net income was $25 million.
For the full year, net sales increased 16% over the prior year to $1.97 billion, while net income for the year was $30 million and adjusted net income was $69 million.
“We're pleased with the strong finish to our fiscal 2012. Over the past year, we have continued to accelerate our progress in driving core growth initiatives and expanding in emerging markets while driving customer satisfaction through operational excellence,” said Todd A. Adams, president and chief executive officer.
Process & Motion Control net sales increased 11% to $365 million in the quarter.
Headquartered in Milwaukee, Rexnord's Process & Motion Control platform designs, manufactures, markets and services highly-engineered mechanical components used within complex systems.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
