Parker reports record sales
Parker Hannifin Corporation reported fiscal 2012 sales were a record $13.1 billion, an increase of 6.5 percent from $12.3 billion in the prior year.
Net income for the year was also a record at $1.2 billion, an increase of 9.3 percent compared with $1.1 billion in fiscal 2011. Fiscal 2012 earnings per diluted share were a record at $7.45, an increase of 17.0 percent compared with $6.37 in the previous year.
Fourth quarter sales of $3.4 billion were equivalent to the same quarter a year ago and included a negative 4 percent impact from foreign currency translation. Net income for the quarter was $302.3 million, or $1.96 per share, an increase of 2.6 percent compared with $294.7 million, or $1.79 per share, in the fourth quarter of fiscal 2011.
"Our fourth quarter performance exceeded expectations largely on the strength of our business in North America, as international markets remain soft," said chairman, CEO and president, Don Washkewicz. "We experienced strong growth in our Industrial North America and Aerospace segments, which was offset by a decline in the Industrial International segment."
In the Industrial North America segment, fiscal 2012 fourth quarter sales increased 9.0 percent to $1.34 billion, and operating income was $249.1 million compared with $207.3 million in the same period a year ago.
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.
