Parker Hannfin sales up 4.7%
Parker Hannifin Corporation reported fiscal 2012 third quarter sales of $3.4 billion, an increase of 4.7 percent from $3.2 billion in the prior year quarter.
Net income was an all-time quarterly record at $312.7 million, an increase of 11.0 percent compared with $281.6 million in the third quarter of fiscal 2011.
"This quarter's results benefitted, in part, from the favorable resolution of prior year tax filings, however, all-time record quarterly earnings were largely achieved as a result of strong operating performance in North America," said chairman, CEO and president, Don Washkewicz. "Our organic sales growth was 6 percent, led by a double-digit increase in the North America Industrial segment."
In the Industrial North America segment, third quarter sales increased 11.6 percent to $1.3 billion, and operating income was $227.0 million compared with $189.5 million in the same period a year ago.
In the Industrial International segment, third quarter sales declined 0.5 percent to $1.3 billion, and operating income was $195.1 million compared with $199.8 million in the same period a year ago.
In the Aerospace segment, third quarter sales increased 7.7 percent to $542.8 million, and operating income was $65.9 million compared with $69.0 million in the same period a year ago.
In the Climate and Industrial Controls segment, third quarter sales declined 6.0 percent to $248.7 million, and operating income was $23.2 million compared with $22.6 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.
