Ingersoll-Rand revenues up 7 percent
Ingersoll-Rand said its second-quarter revenues increased 7% to $3.7 billion, compared with revenues of $3.4 billion for the 2009 second quarter.
U.S. revenues were up 6%, and revenues from international operations increased by approximately 10%.
The company reported net earnings of $196.4 million, or 58 cents per share, for the second quarter of 2010. This compares to net earnings for the 2009 second quarter of $122.1 million, or 38 cents per share.
"Our second-quarter 2010 earnings exceeded our prior expectations, primarily driven by higher revenues," said Michael W. Lamach, chairman, president and chief executive officer. "The increase in orders we saw in the first half, coupled with a growing backlog and key new product introductions give us increased confidence that we will achieve better revenue and earnings growth than we anticipated when we began 2010."
In the Industrial Technologies, segment, total revenues of $625 million increased approximately 16% compared with the second quarter of 2009. Air and Productivity revenues increased 13%, with volume increases in all major geographic regions. Revenues in the Americas increased 16% compared with last year as industrial markets continued to improve. Air and Productivity Solutions revenues outside the Americas increased by approximately 10% compared with 2009, from improved activity in Asia. Bookings increased 29% year-over-year.
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.
