Rockwell Automation Q1 sales decline 7.1 percent
Rockwell Automation said its fiscal 2021 first quarter sales were $1.6 billion, down 7.1 percent from $1.7 billion in the first quarter of fiscal 2020.
Organic sales declined 9.7 percent, currency translation increased sales by 0.8 percentage points percent, and acquisitions increased sales by 1.8 percent.
Net income was $593.3 million, or $5.06 per share, compared to $310.7 million, or $2.66 per share, in the first quarter of fiscal 2020.
"The recovery in manufacturing is happening at a much faster pace than we were anticipating, with our total orders exceeding pre-pandemic levels. Demand was especially strong for Intelligent Devices and Information Solutions, which is expected to drive higher growth for the balance of the year. We continue to increase capacity and are expanding our manufacturing workforce to meet this sharp uptick in demand," said Blake Moret, chairman and CEO.
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.
