Rexnord sales up 8 percent
Rexnord said its fiscal year 2018 sales were $2.1 billion, an 8 percent increase from $1.9 billion in fiscal 2017.
Net income was $53 million, or 50 cents per diluted share, compared with $67 million, or 64 cents, in the prior year.
Net sales for the fourth quarter were $575 million, up 14 percent year over year.
Process & Motion Control net sales increased 15 percent year over year to $361 million in the fourth quarter of fiscal 2018 as core sales increased 6 percent, the acquisition of Centa contributed 5 percent to growth and foreign currency translation added 4 percent.
Water Management net sales increased by 13 percent year over year to $215 million in the fourth quarter of fiscal 2018. Core net sales increased 8 percent, excluding a 2 percent contribution from the World Dryer acquisition and a 3 percent favorable impact from foreign currency translation.
The company also said it plans to divest is VAG valve manufacturing business based in Mannheim, Germany.
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.
